COST OF REVENUE 2009 OPERATING EXPENSES a.
34. TAXATION continued b.
Recoverable taxes continued In 2008, the Government of Indonesia through the Financial and Development Supervisory Board “BPKP” commenced an audit to resolve this dispute on VAT paid offsetting royalties payable for the period from 2001 to 2007. However, as at the date of this report, the formal result of this audit has not been issued by the Government of Indonesia. In September 2008, Adaro has placed a fund amounting to Rp 150,000 as a deposit in relation to the settlement of this dispute. In August 2009, BPKP continued its audit in relation to VAT and sales tax for the fiscal periods prior to 2001, as well as the 2008 fiscal period. As at the date of this report, the audit is still ongoing. Management is of the opinion that the audit result will not have a material impact on the Groups financial position and cash flow. Vehicle fuel tax Pajak Bahan Bakar Kendaraan Bermotor“PBBKB” receivable represents the balance of PBBKB that may b e compensated by the Goverment of Indonesia, since PBBKB is a new tax according to the provisions of the CCA..c. Taxes payable
2009 2008 The Company Income tax articles 23 and 26 9,103 37 Final tax article 42 2,011 - Income tax article 21 197 876 VAT output - 365 11,311 1,278 Subsidiaries Corporate income tax 2,183,082 1,115,479 VAT 28,105 156 Income tax articles 23 and 26 20,075 28,946 Income tax article 21 9,049 5,214 Final tax article 42 436 124 Income tax article 15 - 17 2,240,747 1,149,936 2,252,058 1,151,214d. Income tax expense
2009 2008 The Company Current - - Deferred 9,293 9,268 9,293 9,268 Subsidiaries Current 4,162,623 1,635,581 Deferred 52,815 42,873 4,109,808 1,592,708 Consolidated Current 4,162,623 1,635,581 Deferred 43,522 33,605 4,119,101 1,601,976 186 Adaro Energy Annual Report 2009 From Us to Y ou Running Adaro Management Report Owning Adaro Governing Adaro Financial Report Contact Us Corporate Social Responsibility Adaro in Summary www.adaro.com PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 548 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2009 AND 2008 Expressed in million Rupiah, unless otherwise stated34. TAXATION continued d.
Income tax expense continued The reconciliation between profit before income tax and estimated taxable income is as follows: 2009 2008 Consolidated profit before income tax 8,578,381 2,924,704 Profit before income tax - subsidiaries 8,607,008 2,811,424 Adjusted for consolidation elimination 4,403,541 694,235 Profit before income tax - the Company 4,374,914 807,515 Temporary difference: Provision for employee benefits 4,026 - Permanent difference: Income subject to final tax 11,586 6,397 Income from investments in subsidiaries and associates 4,398,839 754,755 Gain from sale of investments in subsidiaries - 38,279 Non-deductible expenses 27,622 8,124 4,382,803 791,307 Taxable lossincome - the Company before use of tax loss carried forward 3,863 16,208 Tax loss used - 16,208 Taxable loss - the Company 3,863 - Current income tax - the Company - - Current income tax - subsidiaries 4,162,623 1,635,581 Consolidated current income tax 4,162,623 1,635,581 Current income tax of subsidiaries, after accounting for extraordinary item refer to Note 40, was as follows: 2009 2008 Current income tax from ordinary activity 4,162,623 1,635,581 Current income tax - extraordinary item - 304,970 Total current income tax 4,162,623 1,330,611 Current income tax computations are based on estimated taxable income. The amounts may be adjusted when Annual Tax Returns are filed with the tax office. The Company’s tax losses carried forward, which can be offset against future taxable income for periods of five years, were incurred in the following fiscal periods: Year Total 2006 6,073 2007 26,533 2009 3,863 36,469 The reconciliation between income tax expense and the theoretical tax amount on the Company’s profit before income tax using currently enacted tax rates is as follows: 2009 2008 Consolidated profit before income tax 8,578,381 2,924,704 Profit before income tax - subsidiaries 8,607,008 2,811,424 Adjusted for consolidation elimination 4,403,541 694,235 Profit before income tax - the Company 4,374,914 807,515Parts
» Adaro Energy 2009 Annual Report English
» Quick Ratio Adaro Energy 2009 Annual Report English
» 13.6 9.4 5.5 1.4 38.5 34.4 24.3 20.8 Adaro Energy 2009 Annual Report English
» Transportation Mt Adaro Energy 2009 Annual Report English
» 23.7 Adaro Energy 2009 Annual Report English
» 9.0 -9.4 7.6 -48 -22 Adaro Energy 2009 Annual Report English
» -57 -58 Adaro Energy 2009 Annual Report English
» 5 1 Adaro Energy 2009 Annual Report English
» Financial structure Adaro Energy 2009 Annual Report English
» International TOTAL Adaro Energy 2009 Annual Report English
» The Development of High Yield Rubber Plantations Micro Financing Institute
» Institute for Educational Potential Development of Adaro Partners LP3AP
» GENERAL continued Establishment of the Company and other information
» GENERAL continued Subsidiaries continued
» Scholarships Establishment of the Company and other information continued Subsidiaries continued
» GENERAL continued Coal Cooperation Agreement
» Cooperation Agreement Adaro Energy 2009 Annual Report English
» Barito Channel Cooperation Agreement
» Coal reserves Adaro Energy 2009 Annual Report English
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Basis of preparation of the consolidated financial statements
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Principles of consolidation continued
» Foreign currency translation Adaro Energy 2009 Annual Report English
» Receivables Adaro Energy 2009 Annual Report English
» Inventories Adaro Energy 2009 Annual Report English
» Investments in debt and equity securities continued
» Impairment of investment in equity and debt securities
» Fixed assets and depreciation continued
» Impairment of long-lived assets
» Deferred exploration and development expenditure continued
» Leases Adaro Energy 2009 Annual Report English
» Environmental obligations continued Adaro Energy 2009 Annual Report English
» Stripping costs Adaro Energy 2009 Annual Report English
» Deferred financing costs Adaro Energy 2009 Annual Report English
» Deferred expenses Adaro Energy 2009 Annual Report English
» Provision for employee benefits continued
» Taxation Adaro Energy 2009 Annual Report English
» Derivative financial instruments and hedging activities
» Earnings per share Adaro Energy 2009 Annual Report English
» Segment reporting continued Adaro Energy 2009 Annual Report English
» Dividends Adaro Energy 2009 Annual Report English
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued
» Acquisition of PT Alam Tri Abadi
» Acquisition of Rachmalta Investments Ltd by Rachpore Investments Pte Ltd continued
» Acquisition of Coronado Holdings Pte Ltd and Orchard Maritime Logistics Pte Ltd
» RESTRICTED CASH AND CASH EQUIVALENTS
» INVENTORIES Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» DEFERRED EXPLORATION AND DEVELOPMENT EXPENDITURE 2009
» FIXED ASSETS continued Construction in progress continued MINING PROPERTIES 2009
» GOODWILL 2009 Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» SHORT-TERM BANK LOANS continued Syndicated Short-term Loan
» LONG-TERM BANK LOANS continued b.
» SENIOR NOTES 2009 PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT continued b.
» ACCRUED STRIPPING COSTS 2009 MINORITY INTEREST a.
» MINORITY INTEREST continued a.
» SHARE CAPITAL ADDITIONAL PAID-IN CAPITAL 2009
» DIFFERENCE IN VALUE FROM RESTRUCTURING TRANSACTIONS OF ENTITIES UNDER COMMON CONTROL continued
» DIVIDENDS Minority interest in net incomeloss of subsidiaries
» APPROPRIATED RETAINED EARNINGS Minority interest in net incomeloss of subsidiaries
» REVENUE 2009 Minority interest in net incomeloss of subsidiaries
» COST OF REVENUE 2009 OPERATING EXPENSES a.
» OPERATING EXPENSES continued b.
» TAXATION a. Minority interest in net incomeloss of subsidiaries
» TAXATION continued b. Recoverable taxes
» TAXATION continued d. Income tax expense
» TAXATION continued e. Deferred tax assets
» Taxes payable Deferred tax liabilities
» Administration Adaro Energy 2009 Annual Report English
» TAXATION continued i. Tax assessment letter
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES
» Other receivables - related party
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued d.
» Trade payables to related parties Cost of revenue
» BASIC EARNINGS PER SHARE 2009
» MONETARY ASSETS AND LIABILITIES SEGMENT REPORTING
» SEGMENT REPORTING continued The nature of relationships with related parties
» SEGMENT REPORTING continued 2008 The nature of relationships with related parties
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued a.
» Interest expense Land-Use Cooperation Agreement
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued c.
» Royalty claim Adaro Energy 2009 Annual Report English
» Capital expenditures Adaro Energy 2009 Annual Report English
» Banking facility Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued h.
» Engineering, Procurement and Construction Agreement
» Agency fees Adaro Energy 2009 Annual Report English
» Customer Claims Adaro Energy 2009 Annual Report English
» Legal proceedings Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued n.
» Amortising Revolving Credit Facility
» Overland Conveyor Construction Contract
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