TAXATION continued PAYABLES TO RELATED PARTIES continued
20 21
c. CORPORATE INCOME TAX
The reconciliation between income loss before corporate income tax as shown in the consolidated statements of comprehensif income and the Entity income tax computation and the related corporate income tax receivables over
payments are as follows:
Consolidated income loss before corporate income tax 87,024,690
49,353,175 9,597
5,489 Less:
Subsidiaries commercial loss 119,951
34,710,675 13
3,861 Comprehensif income
1,602,560 -
117 -
The Entity income before corporate income tax 87,967,300 84,063,850
9,701 9,350
PERMANENT DIFFERENCES:
Entertainment, gifts and donations 59,105
258,726 7
29 Travel expenses
3,654 4,791
1 Vehicle expenses
4,653 54,409
1 6
Welfare expenses 181,806
755,095 20
84 Interest income on deposits and
current accounts-subjected to final tax 104,785
8,028 12
1 Gain from investments
957,845 -
106 -
Others 903,051
24,349,588 100
2,708
Total permanent differences 89,639
25,414,581 10
2,827 Dec 31, 2011 Dec 31, 2010 Dec 31, 2011 Dec 31, 2010
Rp Rp
US US
PT Buana Indah Garments continued
Long term loan: The Entity also obtained long term loan from PT Buana Indah Garments based on Loan Agreement dated November 30,
2011. This loan amounted to Rp 1,800,000 with interest rate 8. Term of this loan is three years and will be due on November 29, 2014.
Outstanding long term loan of PT Buana Indah Garments as of December 31, 2011 and 2010 amounted to Rp 1,800,000 and nil, respectively.
No collateral is pledged for this loan.
TAXATION
21
a. PREPAID TAXES
Value Added Tax 215,805
283,917 24
32
Total prepaid taxes 215,805
283,917 24
32 b. TAXES PAYABLE
Income tax article 21 261,886
499,261 29
56 Income tax article 2326
1,218,127 954,124
134 106
Income tax article 4 2 5,000
55,000 1
6
Subsidiaries:
PT Asiatex Garmindo Value Added Tax 613,564
784,759 68
87 PT Eratex Hongkong Ltd Income Tax
40,138 -
4 -
Total taxes payable 2,138,715
2,293,144 236
255 c. CORPORATE INCOME TAX
Current income tax expense: Subsidiary Companies
161,354 102,922
18 11
Sub total 161,354
102,922 18
11 Deferred tax expensebenefit:
The Entity 2,277,028
1,174,103 260
131
Sub total 2,277,028
1,174,103 260
131 Total corporate tax expensesbenefit
2,438,382 1,071,181
278 120
Dec 31, 2011 Dec 31, 2010 Dec 31, 2011 Dec 31, 2010 Rp
Rp US
US
Dec 31, 2011 Dec 31, 2010 Dec 31, 2011 Dec 31, 2010 Rp
Rp US
US
Dec 31, 2011 Dec 31, 2010 Dec 31, 2011 Dec 31, 2010 Rp
Rp US
US TEMPORARY DIFFERENCES:
Depreciation of fixed assets 150,131
1,547,254 17
172 Provision for declining in value of receivables
80,406 23,050
9 3
Amortization of intangible assets 109,464
99,380 12
11 Employee benefit liabilities
137,907 560,767
15 62
Provision realization for declining in value of inventories
563,797 4,368,545
62 486
Effect of implementation PSAK 5055 Revised 2006 8,891,174
- 981
- Financial expenses
169,213 -
19 -
Total temporary differences 9,108,111
3,504,488 1,004
390 Total taxable income fiscal loss
78,948,828 55,144,781 8,706
6,133 Compensated amount of fiscal loss
78,948,828 8,706
- Corporate Income Tax
- -
- -
PREPAYMENT OF INCOME TAX:
Income tax article 22 19,039
- 2
- Income tax article 23
144,052 -
16 -
Overpayment of corporate income tax 163,091
- 18
-
PT ERATEX DJAJA Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
For the years ended December 31, 2011 and 2010 Expressed in thousands of Rupiah and in thousands of United States Dollars, unless otherwise stated
PT ERATEX DJAJA Tbk AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
continued
For the years ended December 31, 2011 and 2010 Expressed in thousands of Rupiah and in thousands of United States Dollars, unless otherwise stated
133 132
Laporan Tahunan 2011 Annual Report 2011 PT. ERATEX DJAJA Tbk
PT. ERATEX DJAJA Tbk Laporan Tahunan 2011 Annual Report 2011
TAXATION continued
21
d. DEFERRED TAX ASSETS LIABILITIES
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