Notes tothe financial statements For the financial year ended 31 December 2023 17. Claims for tax refund Claims for tax refund represent (a) advance tax payment made by each entity within the Group which is creditable against their respective corporate income tax payable; and (b) tax assessments being appealed to the taxation authorities. 18. Deferred tax Deferred tax as at 31 December relates to the following: Group 2023 2022 Rp million Rp million Temporary tax differences: Property, plant and equipment (913,174) (919,609) Biological assets (140,431) (164,121) Withholding tax on unremitted foreign interest income (27,641) (29,645) Adjustments for uncollectible and loss arising from changes in amortised cost of plasma receivables 90,214 75,634 Allowance for employees benefit expenses 22,418 20,419 Allowance for decline in market value and obsolescence of inventories 28,654 44,764 Allowance for impairment of advances 12,915 12,915 Employee benefits liabilities 273,792 333,972 Deferred inter-company profits 21,457 30,931 Tax losses carry forward 47,902 103,384 Impairment loss of property, plant and equipment 125,649 92,142 Others (16,604) (30,221) Total (474,849) (429,435) Classified as: Deferred tax assets 278,904 276,080 Deferred tax liabilities (753,753) (705,515) The deferred tax asset and deferred tax liability for the deductible and taxable temporary differences in relation to its lease liabilities and right-of-use assets are included under advances and property, plant and equipment respectively. For purposes of presentation in the consolidated balance sheet, the asset or liability classification of the deferred tax effect of each of the above temporary differences is determined based on the net deferred tax position (net assets or net liabilities) on a per entity basis. 112 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Indofood Agri Resources Ltd
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