Notes tothe financial statements For the financial year ended 31 December 2023 18. Deferred tax (cont’d) Deferred tax assets and liabilities cover the future tax consequences attributable to differences between the financial and tax reporting bases of assets and liabilities and the benefits of tax losses carry forward. The Company recognised deferred tax liabilities of Rp27.6 billion (2022: Rp29.6 billion) in respect of unremitted foreign interest income arising from cash at banks, short-term deposits and shareholder loan to its subsidiary. Deferred tax income or expense recognised in consolidated statement of comprehensive income: Group 2023 2022 Rp million Rp million Deferred income tax movements: Property, plant and equipment and biological assets (30,032) (3,041) Adjustments of EIR amortisation of plasma receivables (14,578) 35,917 Changes in allowance of decline in market value and obsolescence of inventories 16,110 (16,917) Employee benefits liabilities 58,614 13,230 Deferred inter-company losses 9,474 (1,640) Changes in provision for employee benefits expense (1,999) 12,931 Tax losses carry forward 55,482 86,320 Impairment loss of property, plant and equipment (33,507) (31,499) Others 23,787 9,521 Net deferred tax expense reported in the consolidated statement of comprehensive income (Note 11) 83,351 104,822 Unrecognised tax losses At the end of the reporting period, the Group has total tax losses amounting to Rp3,111.3 billion (2022: Rp3,521.7 billion) that are available for offset against future taxable profits for up to five years from the date the losses were incurred as the tax losses in Indonesia generally expire after 5 years. Deferred tax benefits of Rp636.6 billion (2022: Rp671.4 billion) attributable to Rp2,893.6 billion (2022: Rp3,051.7 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 a deferred tax liability of Rp836.1 billion (2022: Rp775.3 billion) as at 31 December 2023 in respect of undistributed profits of subsidiaries as the distribution is controlled and there is currently no intention for the profits to be remitted to Singapore. 113 GROUP OVERVIEW OPERATION AND FINANCIAL REVIEW SUSTAINABILITY & GOVERNANCE FINANCIALS OTHER INFORMATION Annual Report 2023
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