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EN_Tipco_Annual Report 2014

TIPCO FOODS PUBLIC COMPANY LIMITED PAGE 140/ 141 26. Staff Provident Fund The Company and its subsidiaries joined with a contributory registered provident fund, in accordance with The Provident Fund Act B.E. 2530. The contributions from staffs are deducted from the monthly salaries, with the Company matching the individual’s contributions. 27. Classification of Expenses by Nature Significant expenses by nature are as follow: Employee expenses Depreciation Amortization Finance costs Loss on impairment of assets Cost of production and service (Excluded cost of employees and depreciation) Current income tax : Current income tax expenses Deferred tax : Temporary difference and reversal of temporary differences Income tax expense reported in the statement of comprehensive income Consolidated Financial Statements Consolidated Financial Statements Separate Financial Statements Separate Financial Statements Consist of Consist of Unit: Baht Unit: Baht 31 Dec 2014 31 Dec 2014 31 Dec 2014 31 Dec 2014 31 Dec 2013 31 Dec 2013 31 Dec 2013 31 Dec 2013 599,991,351 244,681,216 5,176,011 83,415,143 229,272,680 2,641,676,364 698,750,287 233,103,521 2,614,019 89,357,586 0 3,006,213,467 305,112,031 131,917,535 3,439,291 50,891,328 37,628,708 1,356,113,899 402,091,602 116,550,357 1,502,175 55,338,394 0 1,623,715,684 28. Income Tax The income tax expenses is computed from the profit before income tax, which is in accordance with the regulation in the Revenue Code. In December 2011, the Royal Decree has been issued, regarding the reduction of corporate income tax rates, from the rate of 30% to 23% for the year 2012, and 20% for the year 2013 and 2014. In November 2014, the Royal Decree has been issued to extend the reduced rate for corporate income tax (20%) for the year 2015 commencing on or after 1 January 2015. Income tax expenses for the year ended December 31, 2014 and 2013 are as follow: 11,706,578 (80,484,316) (68,777,738) 5,980,410 (798,260) 5,182,150 0 (43,917,619) (43,917,619) 0 6,614,961 6,614,961


EN_Tipco_Annual Report 2014
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