INDOFOOD AGRI RESOURCES LTD
ANNUAL REPORT 2015
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For the financial year ended 31 December 2015
17.
DEFERRED TAX (CONT’D)
Deferred tax income or expense recognised in consolidated statement of comprehensive income
Group
2015
2014
Rp million
Rp million
Deferred income tax movements:
Property, plant and equipment
15,640
18,989
Biological assets
48,359
57,802
Allowance for impairment and amortised costs adjustments of
plasma receivables
(10,450)
(7,915)
Write-back for allowance of decline in market value and obsolescence of
inventories
(783)
(4,432)
Employee benefits liabilities
(33,440)
(55,765)
Deferred inter-company profits
1,147
18,917
Provision for employee benefits expense
931
3,884
Tax losses carry forward
(149,983)
(152,763)
Withholding tax on distributable profit of foreign subsidiaries
(16,979)
9,539
Others
40
(565)
Net deferred tax benefit reported in the consolidated statement of
comprehensive income (Note 11)
(145,518)
(112,309)
Unrecognised tax losses
At the end of the reporting period, the Group has tax losses amounting to Rp4,882.7 billion (2014: Rp4,127.3 billion)
that are available for offset against future taxable profits for up to five years from the date the losses were incurred.
Deferred tax benefits of Rp190.0 billion (2014: Rp151.1 billion) attributable to Rp760.0 billion (2014: Rp604.4 billion) of
these tax losses were not recognised as the recoverability was considered not probable.
Unrecognised temporary differences relating to investments in subsidiaries
The Group has not recognised deferred tax liability of Rp562.7 billion (2014: Rp568.2 billion) as at 31 December 2015 in
respect of undistributed profits of subsidiaries because the distribution is controlled and there is currently no intention
for the profits to be remitted to Singapore.
Unrecognised temporary differences relating to unremitted foreign-sourced interest income
The Group has not recognised deferred tax liability of Rp76.0 billion (2014: Rp57.0 billion) as at 31 December 2015
in respect of unremitted foreign-sourced interest income as the Group has control over the remittance and there is
currently no intention for the income to be remitted to Singapore.
