PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
19. TAXATION (continued)
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
f. Deferred tax assets (liabilities) consist of (continued):
47
2010 2009
Subsidiaries
Deferred tax asset 794,873 521,777
Deferred tax liability (356,020) (236,822)
Deferred tax assets - net 794,873 521,777
Deferred tax liabilities - net 1,539,907 1,448,213
The management of the Company and Subsidiaries believe that the above deferred tax assets are
fully recoverable through future taxable income.
g. The computation of final tax is as follows:
2010 2009
Revenue attributable to final tax at
applicable tax rates
Company 531,575,731 439,750,055
Subsidiaries 1,035,155,748 683,272,874
Total 1,566,731,479 1,123,022,929
Current income tax expense
Company 50,253,959 42,705,335
Subsidiaries 55,995,361 28,501,914
Current income tax expense - final 106,249,320 71,207,249
Based on Government Regulation No. 5 dated March 23, 2002, income from shopping center
rental is subject to a final tax of 10%, except for income on rental contracts signed prior to such
regulation which is subject to 6%. On November 4, 2008, the President of the Republic of
Indonesia and the Minister of Law and Human Rights signed Government Regulation No. 71/2008
(PP No. 71/2008) on “the third changes on PP No. 48/1994 regarding payment of income tax on
income from transfer rights on land and/or building”. This regulation provides that, effective
January 1, 2009, the income of a taxpayer from transactions of transferring rights on land and/or
building, will be subject to final tax of 5%.
h. Others
In September 2008, Law No. 7 Year 1983 regarding “Income Tax” has been revised for the fourth
time with the issuance of Law No. 36 Year 2008. The revised Law stipulates changes in the
corporate tax rates from progressive tax rates to a single rate of 28% for fiscal year 2009 and 25%
for fiscal years 2010 onwards. The Company recognized these rate changes in the computation of
deferred tax assets and liabilities as of December 31, 2009 which resulted in the recognition of
deferred tax benefit of Rp220,346 which was deducted from deferred income tax expense in 2009.