PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
- 118 - Principal actuarial assumptions used in the valuation of the defined post-employment benefits
are as follows:
December 31, December 31,
2012 2011
Future salary increase 4.50 - 15.00 5.00 - 15.00
Discount rate 6.50 - 10.00 7.00 - 10.00
50. Other Expenses
December 31, December 31,
2012 2011
Repairs and maintenance 64,020
41,089 Training and education
44,999 35,296
Direct costs of service center 14,937
13,107 Tithe inshare in net loss of associates - net
4,026 -
Others 39,602
22,239 Total
167,584 111,731
Others consist of donation, fine, loss on sale of foreclosed properties and others.
51. Income Taxes
The tax expense of the Group consists of the following:
As Restated - Note 62
December 31, December 31,
2012 2011
Current tax expense Subsidiaries
110,620 78,996
Deferred tax benefit The Company
43 18
Subsidiaries 22,095
10,634 Subtotal
22,138 10,652
Total 88,482
68,344
Current Tax A reconciliation between income before tax per statements of comprehensive income of the
Company and accumulated fiscal losses is as follows:
As Restated - Note 62
December 31, December 31,
2012 2011
Income before tax per consolidated statements of comprehensive income
1,656,283 2,012,263
Deduct: Income of the subsidiaries
1,621,677 1,974,274
Income before tax of the Company 34,606
37,989
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011
Figures are Presented in Millions of Rupiah, unless Otherwise Stated
- 119 -
As Restated - Note 62
December 31, December 31,
2012 2011
Temporary differences: Long term employee benefit expense
173 82
Depreciation expense 1
13 Employee loan
- 26
Net 174
69 Permanent differences:
Depreciation expense 7,482
3,935 Other expenses
1,957 3,657
Interest income 27
45 Rent income
5,775 1,000
Gain from investment in units of mutual funds 24,976
25,486 Share in net income of the associates
34,704 25,176
General and administrative expenses 14
- Net
56,029 44,115
Fiscal loss 21,249
6,057 Accumulated fiscal losses in prior years
18,476 18,620
Adjustment on fiscal losses based on Tax Assessment Letter year 2010
1,151 -
Adjustment on fiscal losses based on Tax Assessment Letter year 2009
- 2,328
Adjustment on fiscal losses year 2011 914
- Uncompensated fiscal losses
856 3,873
Accumulated fiscal losses 36,804
18,476
The Company is in fiscal loss position, thus, no provision for current corporate income tax was made. According to tax regulation, fiscal losses can be carried forward and applied against the
taxable income immediately within five 5 years after such fiscal losses were incurred.
Based on Tax Assessment Letter No: 000814061005412 dated May 4, 2012, the Company’s fiscal loss for year 2010 have been adjusted from Rp 3,914 to Rp 2,763.
Deferred Tax
Credited Credited
charged in charged in
consolidated consolidated statement of
statement of December 31,
comprehensive December 31,
comprehensive December 31,
2010 income
2011 income
2012 Deferred Tax Assets - Net
Deferred tax assets liabilities: Fiscal losses
1,006 -
1,006 -
1,006 Long-term employee benefit
expense 59
21 80
43 123
Depreciation expense 5
3 8
- 8
Employee loans 20
6 14
- 14
Total - the Company 1,090
18 1,108
43 1,151
Subsidiaries 2,470
12,463 14,933
37,781 52,714
Total 3,560
12,481 16,041
37,824 53,865
Deferred Tax Liabilities - Net Subsidiary
41,992 1,829
43,821 15,686
59,507
