Other Liabilities SMMA 2014AR. SMMA 2014AR
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated
Deferred Tax
Credited Credited
Credited charged in
charged in charged in
consolidated consolidated
January 1, 2013 consolidated
statement of statement of
December 31, statement of
comprehensive December 31,
comprehensive December 31,
2012 financial position
income 2013
income 2014
Deferred Tax Assets Deferred tax assets
liabilities: Fiscal losses
1,006 -
1,006 -
- -
Long-term employee benefit expense
123 -
28 151
88 239
Depreciation expense 8
- 8
- -
- Employee loans
14 -
14 -
- -
Total - the Company 1,151
- 1,000
151 88
239 Subsidiaries
52,714 -
24,633 28,081
12,214 40,295
Total 53,865
- 25,633
28,232 12,302
40,534 Deferred Tax Liabilities
Subsidiaries 59,507
6,852 16,192
82,551 12,741
95,292
Management believes that deferred tax assets on temporary difference can be realized in the future.
In December 2007, the Government issued a regulation relating to a tax rate reduction of 5 from the applicable tax rates for publicly listed entities effective January 1, 2008, if they comply
with certain requirements relating to shareholding composition. Effective on November 21, 2013, regulation has changed with PP No. 77 Tahun 2013 with certain additional requirement has
provided a tax rate reduction of 5.
A reconciliation between the income before tax per consolidated statements of comprehensive income and fiscal losses is as follows:
2014 2013
Income before tax per consolidated statements of comprehensive income
1,314,083 1,497,806
Deduct: Share in net income of subsidiaries
1,163,657 405,967
Income before tax of the Company 150,426
1,091,839 Tax expense at effective tax rates
30,085 218,368
Tax effects of permanent differences: Depreciation expense
982 1,287
Other expenses 863
182 Interest income
3,577 5,521
Rent income 1,963
1,582 Gain from investment in units of mutual funds
14,066 1,225
Gain on sale of investment in shares 229
21,805 Share in net income of associates
1,889 4,298
General and administrative expenses 1,353
- Total
18,526 10,648
Unrecognized deferred tax asset on fiscal losses recovery -
5,343 Tax expense of the Company
11,559 223,673
Tax expense of the subsidiaries 92,835
151,931 Total
104,394 375,604
- 105 -
PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements
For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated