Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.

NOTES TO THE FINANCIAL STATEMENTS
15. CURRENT TAX LIABILITIES
2008 2007 2008 2007
US$ US$ Riel Million Riel Million
(Unaudited) (Unaudited)
Balance at beginning of the year 4,421,143 2,786,518 18,043 11,154
Charge for the year (note 27) 5,518,412 5,028,697 22,521 20,130
Income tax paid during the year (5,104,960) (3,394,072) (20,834) (13,586)
4,834,595 4,421,143 19,730 17,698
Income tax is calculated by applying the corporate tax rate to accounting net income before tax. No effect
has been taken into account of items deemed not deductible by the Law on Taxation.
The Bank has obtained tax clearance up to the fiscal year 2007. The current tax year is subject to the Tax
Department's assessment. The outcome of a tax audit cannot, at present, be determined.
16. OTHER LIABILITIES
2008 2007 2008 2007
US$ US$ Riel Million Riel Million
(Unaudited) (Unaudited)
Accrued interest payable 4,989,586 3,641,960 20,363 14,579
Accounts payable 298,845 42,288 1,220 169
Tax payable 166,921 155,571 681 623
Accrued expense 162,807 152,697 664 611
Amount due to MasterCard International - 538,050 - 2,154
Staff bonus payable 288,497 251,658 1,177 1,007
Other liabilities 492,796 361,442 2,011 1,447
17. BORROWINGS
6,399,452 5,143,666 26,116 20,590
2008 2007 2008 2007
US$ US$ Riel Million Riel Million
(Unaudited) (Unaudited)
Overdraft - the Central Bank 3,105,467 - 12,674 -
Term borrowing - KfW 3,951,812 4,379,241 16,127 17,530
7,057,279 4,379,241 28,801 17,530
Annual Report 2008 45