PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three Months ended March 31, 2005 and 2004 Expressed in rupiah, unless otherwise stated
28
10. TAXATION continued
e. The reconciliation between income before corporate income tax expense multiplied by the applicable tax rate and corporate income tax expense as shown in the consolidated statements of
income for the three months ended March 31, 2005 and 2004 is as follows:
2005 2004
Income before corporate income tax expense 221,101,641,472
5,672,457,972
Tax expense at the applicable rate 65,361,384,600
1,411,746,760 Tax effects on permanent differences mainly
consisting of employees’ benefits, donations and public relations expenses
3,746,638,931 4,360,034,888
Tax corrections 3,903,856,923
4,025,673,893 Income already subjected to final tax
1,015,665,814 814,960,063
Equity in net earnings of associated companies - net
286,386,326 263,794,413
Others -
46,896,963
Tax expense per consolidated statements of income
71,709,828,314 8,671,804,102
f. Deferred tax assets liabilities consist of:
Deferred Tax Benefit Expense
Credited Charged to December 31, 2004 2005 Profit and Loss March 31, 2005
Deferred Tax Assets:
Company Tax loss carryforward
488,305,445,587 53,750,257,991
434,555,187,596 Allowance for doubtful accounts and
inventory losses 13,295,618,437
339,280,475 12,956,337,962
Estimated liability for employee benefits 9,338,768,646
2,061,018,674 11,399,787,320
Reserve for recultivation 2,902,904,019
19,518,831 2,883,385,188
Accrual for trade discount 4,062,979,242
4,062,979,242 -
Others 833,851,800
- 833,851,800
Sub-total 518,739,567,731
56,111,017,865 462,628,549,866
Subsidiaries 5,063,109,760
91,631,708 4,971,478,052
Total 523,802,677,491
56,202,649,573 467,600,027,918
Deferred Tax Liabilities:
Company Difference in net book value of fixed
assets between tax base and accounting base
580,234,066,955 14,078,074,459
594,312,141,414 Subsidiaries
869,543,543 143,401,682
1,012,945,225
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Three Months ended March 31, 2005 and 2004 Expressed in rupiah, unless otherwise stated
29
10. TAXATION continued
