PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
29
13. TAXATION continued 2009
2008
Estimated claims for tax refund are as follows: The Company
2009 39,123,523,880
-
2008 32,882,088,562
32,882,088,562 Total
72,005,612,442 32,882,088,562
The 2008 taxable income was consistent with the Annual Corporate Income Tax Return SPT submitted by the Company to the Tax Office.
There were differences between the recorded 2005 and 2006 taxable income with the SPTs submitted by the Company to the Tax Office. However, in May 2008, the Company made
revisions to its 2005 and 2006 corporate income tax calculations, whereby the Company made additional payments totaling to Rp996,268,400 to the Tax Office. This amount is recognized as
part of “Operating Expenses - Taxes and Legal” account in the 2008 consolidated statement of income.
e. Reconciliation between income before corporate income tax expense multiplied by applying the applicable tax rates to the corporate income tax expense is as follows:
2009 2009
Income before corporate income tax expenses per consolidated statements of income
164,140,733,192 147,902,338,806
Subsidiary’s income before income tax expenses 16,438,250,626
- The Company’s income before income tax expenses
147,702,482,566 147,902,338,806
Income tax expense based on prevailing tax rates 41,356,695,118
44,353,201,382 Tax effects of permanent differences:
Representation and donation 1,650,562,017
385,079,879 Non-deductible expenses
1,156,008,595 987,812,613
Non-deductible interest expense 658,253,990
102,351,718 Tax expenses
104,048,697 291,960,257
Depreciation of fixed assets 24,609,375
7,031,250 Interest income already subjected to final tax
973,174,637 737,233,068
Rent income already subjected to final tax 119,988,026
87,402,799 Reduction on tax rate
282,211,730 17,423,280
Income tax expenses Company
44,139,226,859 45,320,224,512
Subsidiary 2,313,655,293
-
Consolidated corporate income tax expense 46,452,882,152
45,320,224,512
PT TRIKOMSEL OKE Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2009 and 2008 Expressed in Rupiah Unless Otherwise Stated
30
13. TAXATION continued
f. The deferred tax effects of the temporary differences between the commercial and the tax bases on the Company’s assets and liabilities as of December 31, 2009 and 2008 are as follows:
2009 2008
Deferred tax assets Estimated liabilities for employees’ benefits
1,966,504,531 1,459,956,178
Allowance for decline in value of inventories 816,483,472
305,363,159 Accrued salary expenses
781,000,000 720,205,059
Allowance for doubtful accounts 761,675,000
- Deferred tax liabilities
Fixed assets 2,235,390,633
1,744,352,378 Finance lease payables
- 26,560,389
Deferred tax assets - net 2,090,272,370
714,611,629 Deferred tax liabilities - Subsidiary
817,800 -
Management believes that the deferred tax assets can be fully recovered through future taxable income.
g. In September 2008, Law No. 7 Year 1983 regarding “Income Tax” has been revised for the fourth time with Law No. 36 Year 2008. The revised Law stipulates changes in corporate tax rate from
a progressive tax rate to a single rate of 28 for fiscal year 2009 and 25 for fiscal year 2010 onwards. The Company recorded deduction of tax benefit as the impact of the changes in tax
rates of Rp282,211,730 and Rp17,423,280 as part of “Corporate Income Tax Benefit Expense - Deferred” account in the consolidated statements of income for the years ended December 31,
2009 and 2008, respectively.
14. CONSUMER FINANCING LOAN In accordance with the Credit Agreement dated December 19, 2008 with PT BCA Finance, a third
party, the Company obtained a loan facility amounting to Rp600,000,000 for 24 months with effective annual interest rate of 17. This loan is secured by the Company’s vehicle with carrying amount of
Rp750,000,000. The Company is required to insure the related vehicle over the term of the loan Note 9.
As of December 31, 2009 and 2008, the future minimum payment of the consumer financing loan under the above agreement was as follows:
2009 2008
Up to one year 321,750,000
351,000,000 More than one year to five years
- 321,750,000
Total 321,750,000
672,750,000 Less amount applicable to interest expense
25,744,398 102,000,000
Present value of the consumer financing installment payments
296,005,602 570,750,000
Less current maturities 296,005,602
274,744,362
Long-term portion -
296,005,638
