PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
28
11. TRADE PAYABLES
2 0 0 7 2 0 0 6
Third parties: Farmers – in Rupiah
63,266,873 43,115,265
Suppliers In
Rupiah 19,503,755
5,596,543 In US Dollar
8,790,841 6,210,175
Total 91,561,469
54,921,983
Trade payables to farmers represent payables from FFB purchases to Plasma farmers, while trade payables to suppliers mostly represent payables from the purchase of fertilizers and spare parts.
An aging analysis of trade payables was as follows:
2 0 0 7 2 0 0 6
Due within 1 - 30 days 83,539,473
51,831,029 Due between 31 - 60 days
4,851,894 1,425,012
Due between 61 - 90 days 2,368,396
1,603,529 Due after 90 days
801,706 62,413
Total 91,561,469
54,921,983
12. SALES ADVANCES
Sales advances represent advances received from the following in relation to sales of crude palm oil, palm kernel and germinated seeds:
2 0 0 7 2 0 0 6
PT Sinar Alam Permai 1,940,277
1,362,771 PT Indokarya Internusa
135,011 926,429
PT Sari Dumai Sejati -
1,426,538 PT Asianagro Agung Jaya
2,014,802 -
PT Aman Jaya Perdana 1,453,766
- PT Mega Surya Mas
8,572,327 -
PT Sinar Jaya Inti Mulia 3,835
408,138 Others below Rp 500,000 each
2,726,564 1,860,330
Total 16,846,582
5,984,206
13. TAXATION a Prepaid taxes
2 0 0 7 2 0 0 6
Value Added Tax- In 1,523,195
- Income Tax – Article 22
10,452 2,822
Income Tax – Article 25 5,080,911
318,400 Fiscal
6,000 1,000
Total 6,620,558
322,222
b. Taxes payable
2 0 0 7 2 0 0 6
Income taxes:
Article 21
521,718 386,723
Article 25
4,091,421 1,892,309
Article 2326
205,132 13,102
Article 29
9,571,446 12,684,724
Value Added Tax VAT – Out 3,401,677
5,652,996
Total 17,791,394
20,629,854
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
29
13. TAXATION continued
c Components of corporate income tax expense benefit
2 0 0 7 2 0 0 6
Current period:
The Company
- 1,572,653
Subsidiaries 27,333,136
22,306,460 Sub-total
27,333,136 23,879,113
Deferred: The
Company 8,424,733
- Subsidiaries
2,229,097 1,155,312
Sub-total 10,653,830
1,155,312
Total 16,679,306
25,034,425
d Corporate income tax The reconciliation between the consolidated income loss before corporate income tax expense as
shown in the consolidated statements of income and the current estimated taxable income tax loss is as follows:
2 0 0 7 2 0 0 6
Consolidated income loss before corporate Income tax expenses
56,806,008 84,926,603
Permanent differences:
Loss from impairment fixed assets 7,442,177
- Interest
income 3,514,225
1,607,283 Tax
expense 580,580
420,431 Goodwill
amortization 926,761
Total 5,435,293
1,186,852
Estimated taxable income 62,241,301
83,739,751
Taxable income tax loss relating to Subsidiaries,
net 90,323,835
78,439,241
Estimated taxable income - tax loss of the Company
28,082,534 5,300,510
Tax losses carried forward from prior years -
-
Taxable income tax loss of the Company 28,082,534
5,300,510
The current corporate income tax expense and the computation of the estimated income tax payable claim for tax refund are as follows:
2 0 0 7 2 0 0 6
The Company
Taxable income tax loss 28,082,534
5,300,510 Income tax expense – current period
- 1,572,653
Less : prepayment of income taxes 2,222,406
1,390,549
Estimated income tax payable tax overpayment 2,222,406
182,104
PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006
Expressed in thousands of Rupiah, unless otherwise stated
30
13. TAXATION continued d Corporate income tax continued
