PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
27
10. TAXATION continued 2008
2007
Add deduct:
Temporary differences
Provision for
post-retirement healthcare
benefits -
net 1,055,695,690
1,341,180,447 Provision
for employee
benefits -
net 407,315,838
2,712,816,245 Payments of obligations under capital lease
24,958,497,430 1,436,902,282
Depreciation of fixed assets including leased
assets 6,186,653,753
42,066,093,467 Provisions for doubtful accounts and
inventory losses
write-off of
accounts and inventories against allowance - net
853,732,162 4,041,390,622
Provision for recultivation - net Note 23s
308,471,201 330,297,250
30,844,343,018 43,820,686,929
Permanent differences Non-deductible
expenses Employee
benefits 10,674,699,098
11,654,432,784 Public
relations 1,914,124,523
2,128,602,300 Donations
779,731,453 1,599,824,440
Others 991,966,613
765,287,727 Income already subjected to final tax
11,646,255,625 1,351,998,407
Equity in net earnings of associated companies
- net
1,623,622,560 3,266,872,521
1,090,643,502 11,529,276,323
Estimated taxable income of the Company 1,059,872,380,725
474,737,619,837
c. The details of corporate income tax expense benefit are as follows:
2008 2007
Current Company
317,944,214,000 142,403,785,700
Subsidiaries 7,938,619,300
3,953,891,500 325,882,833,300
146,357,677,200 Deferred
Company 9,364,130,568
13,146,206,079 Subsidiaries
5,680,170,064 1,112,641,808
3,683,960,504 12,033,564,271
Total 329,566,793,804
158,391,241,471
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
28
10. TAXATION continued
d. The calculation of estimated corporate income tax payable claims for income tax refund is as follows:
2008 2007
Current income tax expense Company
317,944,214,000 142,403,785,700
Subsidiaries 7,938,619,300
3,953,891,500 Total
325,882,833,300 146,357,677,200
Prepayments of income tax Company
163,441,625,627 97,533,910,337
Subsidiaries 8,971,563,336
6,530,032,395 Total
172,413,188,963 104,063,942,732
Estimated corporate income tax payable Company
154,502,588,373 44,869,875,363
Subsidiaries -
21,036,110
Total 154,502,588,373 44,890,911,473
Estimated claims for income tax refund - presented as part of “Prepaid Taxes” in the consolidated
balance sheets
Company -
- Subsidiaries
1,032,944,036 2,597,177,005
Total for the current period 1,032,944,036
2,597,177,005 Claims for income tax refund from prior years:
Company -
- Subsidiaries
3,205,737,805 3,027,171,528
Total 4,238,681,841
5,624,348,533
On March 26, 2007, the Company received tax assessment letter from the Tax Office for the overpayment of income tax article 29 for the fiscal year 2005 amounting to Rp10,414,347,319 and
increase in the 2005 taxable income to Rp943,166,022,464. The difference between the amount of taxable income approved by the Tax Office and the amount reported was recognized as an
adjustment to the Company’s tax loss carry-forward. The Company also received tax assessment letter from the Tax Office for the underpayment of income tax article 26 and value added tax for the
fiscal year 2005 amounting to Rp8,842,309,507 and Rp74,369,322, respectively.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2008 and 2007 Expressed in rupiah, unless otherwise stated
29
10. TAXATION continued
