Jaarverslag 2014

29 Other operational costs
The breakdown of the other operational costs is as follows:
2014 2013
Trading activities Staatsolie 267,958 208,154
Electric energy 3,643 3,788
Paradise Oil Company 251 424
Trading activities Ventrin 50,718 49,653
GOw2 Energy Suriname 143,766 150,871
466,336 412,890
30 Financial (expense)/ income
The breakdown of the financial (expenses) and income is as follows:
2014 2013
Interest income/(expense) powisie certificates 421 (2,562)
Interest expense term loan, 7% bond and loan at Credit Suisse (13,463) (6,975)
Gain/(Loss) on currencies transactions 1,184 1,092
Other income/(expense) (1,735) 1,440
(13,593) (7,005)
31 Income tax charge
The income tax comprises of:
2014 2013
Current tax expense or benefit (124,567) (135,563)
Deferred tax expense or benefit 728 2,405
(123,839) (133,158)
Reconciliation statutory with effective tax rate:
Suriname statutory income tax rate 2014 2013
Effect of unrecognized tax credits 36% 36%
Effective tax rate 0% -1%
31% 31%
Tax losses carry forward
Ventrin has accumulated tax losses of approximately US$ 14.1 million (2013: US$ 14.2 million) available for offset
against future taxable profits. These losses have no expiry date in Trinidad and Tobago.
Income tax holiday
SPCS is enjoying an income tax holiday from February 1, 2006 to February 1, 2016.
www.staatsolie.com
59