PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
30
11. TAXATION continued 2007
2006
Tax expense at the applicable tax rate 155,056,508,674
149,065,651,380 Tax effects on permanent differences:
Non-deductible expenses 4,953,655,542
10,484,702,093 Equity in net earnings of associated
companies - net 980,061,756
459,552,150 Income already subjected to final tax
638,860,989 4,414,742,954
Tax corrections -
1,907,937,116
Corporate income tax expense per consolidated statements of income
158,391,241,471 156,583,995,485
f. Deferred tax assets liabilities consist of:
Deferred Tax Benefit Expense
Credited Charged to December 31, 2006 2007 Profit and Loss June 30, 2007
Deferred Tax Assets:
Company Estimated liability for employee benefits
14,398,065,929 813,844,874
15,211,910,803 Allowance for doubtful accounts and
inventory losses 13,156,064,068
1,212,417,188 11,943,646,880
Reserve for recultivation 5,353,174,181
99,089,175 5,254,085,006
Estimated liability for post - retirement healthcare benefits
2,267,282,321 402,354,134
2,669,636,455 Obligation under capital lease
2,635,889,954 431,070,685
2,204,819,269 Others
833,851,800 -
833,851,800 Sub-total
38,644,328,253 526,378,040
38,117,950,213 Subsidiaries
7,642,479,221 1,136,591,808
8,779,071,029
Total 46,286,807,474
610,213,768 46,897,021,242
Deferred Tax Liabilities:
Company Difference in net book value of
fixed assets between tax and accounting bases
639,347,120,920 13,182,752,978
652,529,873,898 Net book value of assets under
capital lease 5,565,844,588
562,924,939 5,002,919,649
Sub-total 644,912,965,508
12,619,828,039 657,532,793,547
Subsidiaries 1,747,728,636
23,950,000 1,771,678,636
Total 646,660,694,144
12,643,778,039 659,304,472,183
Net Deferred Tax Assets
:
Subsidiaries 5,894,750,585
1,112,641,808 7,007,392,393
Net Deferred Tax Liabilities:
Company 606,268,637,255
13,146,206,079 619,414,843,334
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
31
11. TAXATION continued
Deferred Tax Benefit Expense
Credited Charged to December 31, 2005 2006 Profit and Loss June 30, 2006
Deferred Tax Assets:
Company Tax loss carryforward
77,079,091,278 77,079,091,278
- Estimated liability for employee benefits
13,156,508,384 140,668,686
13,297,177,070 Allowance for doubtful accounts and
inventory losses 9,412,817,503
492,945,000 8,919,872,503
Reserve for recultivation 3,814,876,992
199,294,673 3,615,582,319
Estimated liability for post -retirement healthcare benefits
1,322,794,200 464,856,949
1,787,651,149 Others
833,851,800 -
833,851,800 Sub-total
105,619,940,157 77,165,805,316
28,454,134,841 Subsidiaries
6,566,388,568 637,158,144
7,203,546,712 Total
112,186,328,725 76,528,647,172
35,657,681,553 Deferred Tax Liabilities:
Company Difference in net book value of fixed
assets between tax base and accounting base
600,757,677,552 19,471,487,367
620,229,164,919 Subsidiaries
1,162,146,908 110,547,746
1,272,694,654 Total
601,919,824,460 19,582,035,113
621,501,859,573 Net Deferred Tax Assets:
Subsidiaries 5,404,241,660
526,610,398 5,930,852,058
Net Deferred Tax Liabilities: Company
495,137,737,395 96,637,292,683
591,775,030,078
Management believes that the above deferred tax assets can be fully recovered in future periods. 12 . LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS
This account consists of loans from:
2007 2006
Third parties Rupiah
294,736,842,104 350,000,000,000
U.S. dollar 266,854,736,928
325,500,000,000 Japanese yen
180,139,612,800 802,245,330,041
Sub-total 741,731,191,832 1,477,745,330,041
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
32
12. LONG-TERM LOANS FROM BANKS AND FINANCIAL INSTITUTIONS continued 2007
