Annual Report 2010 - Baltika Breweries

Notes to the Consolidated Financial Statements for the year ended 31 December 2010
10. Finance income and finance costs
Recognised in profit or loss
2010
’000 RUB
2009
’000 RUB
Foreign exchange gain 725,796 1,368,249
Interest income on bank deposits 406,766 372,086
Interest income on loans and receivables 136,630 94,256
Finance income 1,269,192 1,834,591
Foreign exchange loss (711,966) (2,159,599)
Interest expense on financial liabilities measured at amortised cost (1025) (190,319)
Finance costs recognised in profit or loss (712,991) (2,349,918)
The above financial income and costs include the following in respect of assets/(liabilities) not at
fair value through profit and loss:
Total interest income on financial assets 543,396 466,342
Total interest expense on financial liabilities (1,025) (190,319)
Recognised in other comprehensive income
Foreign currency translation differences for foreign operations 62,340 257,818
Finance income recognised in other comprehensive income, net of tax 62,340 257,818
11. Income tax expense
2010
’000 RUB
2009
’000 RUB
Current tax expense
Current year
Deferred tax expense
4,705,847 5,498,430
Origination and reversal of temporary differences 310,318 231,490
Total income tax expense 5,016,165 5,729,920
The Group’s applicable tax rate is the corporate income tax rate of 20 % for Russian companies (2009: 20 %).
Reconciliation of effective tax rate:
2010
’000 RUB
%
2009
’000 RUB
Profit before income tax 24,187,347 100 29,102,189 100
Income tax at applicable tax rate 4,837,469 20,0 5,820,438 20,0
Non-deductible expenses 361,430 1,5 353,281 1,2
Effects of tax concessions (259,946) (1,1) (496,860) (1,7)
Other 77,212 0,3 53,061 0,2
5,016,165 20,7 5,729,920 19,7
%
81