PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 557
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
36. TAXATION continued
e. Deferred tax assetsliabilities continued
31 December 2013 Transfer
to from deferred
Beginning Charged to
tax assets Acquisition
Credited to Ending
balance profit or loss
liabilities of subsidiary
equity balance
Deferred tax assets
Tax losses carried forward 6,396
4 -
- -
6,400 Retirement benefits obligation
2,412 412
530 -
- 2,294
Difference between the commercial and tax fixed
assets net book values of 468
- 468
- -
-
Deferred tax assets at - the end of the year
8,340 416
62 -
- 8,694
Deferred tax liabilities
Capitalised borrowing cost 14,667
5,760 -
- -
20,427 Retirement benefits obligation
2,079 456
530 -
- 3,065
Mining properties 462,227
16,939 -
68,410 -
513,698 Losses due to changes in
the fair values of derivative financial instruments
1,050 117
- -
1,509 576
Deferred stripping asset 19,264
2,238 -
- -
17,026 Differences between the commercial
and tax net book values of fixed assets
120,580 5,595
468 -
- 115,453
Provision for impairment of trade receivables
4,500 4,500
- -
- 9,000
Differences in fixed assets under finance leases
and lease installments 6,719
1,919 -
- -
4,800 Income from subsidiaries
4,525 1,346
- -
- 5,871
Deferred tax liabilities at the end of the year
581,825 19,948
62 68,410
1,509 631,734
As restated refer to Note 3
Due to the fact that several subsidiaries are in a loss position and only function as head offices, there is a limitation on the future use of tax losses carried forward and also uncertainty as to whether the deferred tax assets will be realised.
Thus, a portion of the deferred tax assets relating to tax losses carried forward and retirement benefit obligation have not been recognised in these consolidated financial statements.
All of the deferred tax assets are expected to be recovered after more than 12 months. The analysis of deferred tax liabilities is as follows:
2014 2013
Deferred tax liabilities to be settled within 12 months 36,190
22,628 Deferred tax liabilities to be settled after 12 months
538,665 609,106
574,855 631,734
As restated refer to Note 3
f. Administration
Under the taxation laws of Indonesia, companies within the Group which are domiciled in Indonesia calculate and pay tax on the basis of self assessment. The DGT may assess or amend taxes within five years of the time the tax becomes
due.
209
AdARo ENERgy 2014 ANNuAl REPoRT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 558
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
36. TAXATION continued
g. Tax assessment letters
