PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
26
10. TRADE PAYABLES continued
The above trade payables arose mostly from purchases of raw materials and other inventories from the Company’s main suppliers as follows:
Suppliers Materials Supplied
Pertambangan Minyak dan Gas Bumi Negara PERTAMINA Fuel
PT Adaro Indonesia Coal
PT Masa Jaya Perkasa Coal
PT Trubaindo Coal Mining Coal
Eurocan Pulp Paper Co. Kraft paper
Fujian Qingshan Paper Industry Co., Ltd. Kraft paper
Billerud AB Kraft paper
Itochu Co. Gypsum
PT Politama Pakindo Woven paper
United Tractors Spare part s
11 . TAXATION a. Taxes Payable
2007 2006
Income taxes Article 21
4,588,867,490 3,551,908,739
Article 22 1,185,750,012
1,145,100,283 Article 23
1,153,225,745 2,170,499,210
Article 25 15,610,175,461
- Article 26
220,586,516 294,822,013
Article 29 44,890,911,473
9,989,292,791 Value added tax
16,169,418,417 48,789,429,658
Total 83,818,935,114
65,941,052,694
b. The reconciliation between income before corporate income tax expense, as shown in the consolidated statements of income, and estimated taxable income of the Company for the six
months ende d June 30, 2007 and 2006 is as follows:
2007 2006
Income before corporate income tax expense per consolidated statements of income
518,536,440,102 499,562,430,434
Income of Subsidiaries before corporate income tax expense - net
10,001,000,067 16,807,632,497
Reversal of inter-company eliminating entries during consolidation
1,506,409,592 2,443,591,946
Income before corporate income tax expense attributable to the Company
507,029,030,443 480,311,205,991
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
27
11. TAXATION continued 2007
2006
Add deduct: Temporary differences
Provision for employee benefits - net 2,712,816,245
468,895,621 Provision for post-retirement healthcare
benefits - net 1,341,180,447
1,549,523,164 Depreciation of fixed assets including
leased assets 42,066,093,467
64,904,957,897 Provisions for doubtful accounts and
inventory losses write-off o f accounts and inventories against allowance - net
4,041,390,622 1,643,150,000
Payments of obligations under capital lease 1,436,902,282
- Provision for recultivation - net Note 24q
330,297,250 664,315,576
43,820,686,929 65,194,004,688
Permanent differences Non-deductible expenses
Employees’ benefits 11,654,432,784
29,525,414,494 Public relations
2,128,602,300 1,213,447,333
Donations 1,599,824,440
2,637,204,150 Others
765,287,727 628,166,275
Equity in net earnings of associated companies - net
3,266,872,521 1,531,840,499
Income already subjected to final tax 1,351,998,407
13,023,934,942 11,529,276,323
19,448,456,811
Estimated taxable income of the Company 474,737,619,837
434,565,658,114
Estimated tax loss carryforward at beginning of year
- 256,930,304,261 Corrections by the Tax Office
- 6,359,7 90,385
Estimated taxable income 474,737,619,837
183,995,144,238
Under existing tax regulations, the tax loss carryforward can be utilized within five 5 fiscal years from the date the tax loss is incurred.
PT INDOCEMENT TUNGGAL PRAKARSA Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six months ended June 30, 2007 and 2006 Expressed in rupiah, unless otherwise stated
28
11. TAXATION continued
