2009 ANNUAL REPORT FINANCIAL SUPPLEMENTS - BDO

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NOTES TO FINANCIAL STATEMENTSDecember 31, 2009, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)27. TAXES27.1 Current and Deferred TaxesThe components of tax expense for the years ended December 31 are as follows:BDO Unibank Group2009 2008 2007BDO ANNUAL REPORT 2009120Reported in profit or lossCurrent tax expense:Regular corporate income tax (RCIT)at 30% in 2009;and 35% in 2008 and 2007 P 231 P 298 P 278Minimum corporate income tax (MCIT) at 2% 297 82 149Final taxes at 20%, 15%, 10% and 7.5% 980 1,078 1,7031,508 1,458 2,130Deferred tax expense (income) relating to originationand reversal of temporary differences 151 (13) 717P 1,659 P 1,445 P 2,847Reported in other comprehensive incomeMovements in fair value of AFS securities P 2 (P 2) P -Movements in revaluation increment (59) (22) -(P 57) (P 24) P -Parent Bank2009 2008 2007Reported in profit or lossCurrent tax expense – MCIT at 2% P 273 P 81 P 147Final taxes at 20%, 15%, 10% and 7.5% 903 983 1,3891,176 1,064 1,536Deferred tax expense (income) relating to originationand reversal of temporary differences 87 (106) 1,098P 1,263 P 958 P 2,634Reported in other comprehensive incomeMovements in fair value of AFS securities (P 26) (P 4) P -Movements in revaluation increment (54) (22) -(P 80) (P 26) P -
NOTES TO FINANCIAL STATEMENTSDecember 31, 2009, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)The reconciliation of the tax on pretax income computed at the statutory tax rates to tax expense is shownbelow.BDO Unibank Group2009 2008 2007Tax on pretax income at 30% in 2009 and 35% in 2008 and 2007 P 2,328 P 1,289 P 3,296Adjustment for income subjected to lower income tax rates (633) (402) 1,339Tax effects of:Tax-exempt loss (income) of FCDU (1,314) 914 (1,688)Income exempt from tax (1,010) (1,183) (2,767)Non-deductible expenses 585 718 1,271Deductible temporary differences not recognized 51 (1,063) 1,155Net operating loss carryover (NOLCO) not recognized 14 1,496 76Effects of change in tax rate - 861 -Others 1,638 (1,185) 165Tax expense reported in profit or loss P 1,659 P 1,445 P 2,847Parent Bank2009 2008 2007Tax on pretax income at 30% in 2009 and 35% in 2008 and 2007 P 2,286 P 853 P 3,607Adjustment for income subjected to lower income tax rates (531) (478) 1,373Tax effects of:Deductible temporary differences not recognized 1,439 (1,414) 1,138Tax-exempt loss (income) of FCDU (1,314) 914 (1,663)Income exempt from tax (1,015) (1,139) (2,523)Non-deductible expenses 542 693 814NOLCO not recognized (applied) (458) 1,495 (13)Effects of change in tax rate - 861 -Others 314 (827) (99)Tax expense reported in profit or loss P 1,263 P 958 P 2,634BDO ANNUAL REPORT 2009121
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FINANCIAL HIGHLIGHTSIn Billion Peso
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REPORT OF INDEPENDENT AUDITORSTo th
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STATEMENTS OF INCOMEFor the Years E
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STATEMENTS OF CHANGES IN EQUITYFor
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STATEMENTS OF CASH FLOWSFor the Yea
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NOTES TO FINANCIAL STATEMENTSDecemb
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2009 ANNUAL REPORT FINANCIAL SUPPLEMENTS - BDO

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