Taxes - Quarterly report "Interregional Distribution Grid Company of Centre", Joint-Stock Company

4.14. Taxes
For accounting of income and expenses at calculation of the taxable profit the Company uses the accrual method. Income and expenses are recognized in that accounting (tax) period in which they took place, regardless of actual inflow of monetary funds, other property or property rights. Cases of income and expenses incurrence at the accrual method are specified by the articles 271, 272, 316, 317 of the Tax Code of the Russian Federation. Tax computation by the results of 2009 was carried out on the basis of the tax accounting data. Taxable profit for the accounting period equaled 3 888 785 thousand rubles, income tax calculated at the rate of 20% equaled 777 757 thousand Rubles.
The earliest one of the following dates is recognized by the Company as the date of defining of the tax base for VAT calculation under the Chapter 21 of the Tax Code of the Russian Federation:
-
Day of dispatch (transfer) of goods (products, services), property rights.
-
Date of payment, partial payment against future delivery of goods (performance of works, rendered services), transfer of property rights.
The sum of the value-added tax accrued for payment for 2009 is 2 117 061 thousand Rubles.
Tax base of the property tax is fixed by the Company on the basis of the fixed assets cost reflected in the Company’s asset side of the sheet-balance. The fixed assets are taken into account at the replacement cost. The sum of property tax for 2009 is 160 504 thousand Rubles.
Accrual and payment of other taxes and dues is performed under the legislation on taxes and dues which regulates the order of accrual and payment of correspondent taxes and dues.
4.15. Deferred tax assets and deferred tax liabilities
The Company reflects in the accounting differences which arise due to divergence between the accounting income and the income calculated in accordance with the requirements of Chapter 25 of the Tax Code (TC) of the Russian Federation.
Obligatory character and rules of formation of such indicators are specified by RAS 18/02 “Accounting of the income tax calculations”
Provisional profits tax expense for 2009 is:
Provisional expense = accounting income x 20% = 2 394 707 x 20% = 478 941 thousand Rubles.
Transfer from the accounting income to taxable income for 2009 is presented in the table:
No
|
Indicator
|
Sum
|
1
|
Income (expenses) under form No. 2 (line code140)
|
2 394 707
|
2
|
Permanent differences
|
3 249 095
|
2.1.
|
Material aid, social benefits, etc to employees, pensioners, etc.
|
545 073
|
2.2.
|
Increase in value of noncurrent assets
|
(96 118)
|
2.3.
|
Recovery of reserve for doubtful debts
|
(14 496)
|
|
Recovery of reserve for other contingent liabilities
|
(206 777)
|
2.4.
|
Depreciation of the fixed assets
|
1 262 890
|
2.5.
|
Income of the past years
|
(77 688)
|
2.6.
|
Expenses of last tax periods, accounted in the past tax periods on the basis of revised declaration
|
232 664
|
2.7.
|
Charitable contribution
|
10
|
2.8.
|
Accounts receivable write-off
|
24 342
|
2.9.
|
Transfers to the extra-budgetary funds NSPF, Innovations in electric power industry
|
14 143
|
2.10.
|
Cultural and sport events
|
17 175
|
2.11.
|
Payments to the Board of Directors
|
26 341
|
2.12.
|
Non-recoverable VAT
|
28 797
|
2.13.
|
Contributions and payments to the employees of trade union committee
|
31 892
|
2.14.
|
Payments for emission of polluting substances above the allowable level
|
2 826
|
2.15.
|
penalties, interest fines, forfeits, payments under amicable agreements
|
3 369
|
2.16.
|
Reserve for doubtful debts
|
972 795
|
2.17.
|
Reserve for other contingent liabilities
|
188 259
|
2.18.
|
Other
|
554
|
3.
|
Deductible temporary differences
|
146 115
|
3.1
|
Depreciation of the fixed assets (the depreciation amount for tax accounting is lesser than the depreciation amount for accounting statements)
|
41 576
|
3.2
|
Sum of expenses at sales of fixed assets adjourned to future period
|
-970
|
3.3.
|
Other
|
105 509
|
4
|
Taxable temporary differences
|
1 901 132
|
4.1.
|
Depreciation of the fixed assets (the depreciation amount for tax accounting is more than the depreciation amount for accounting statements)
|
1 793 638
|
4.2.
|
Expenses included for the accounting as expenses of future periods (licenses, software, etc.)
|
(11 103)
|
4.3.
|
Other taxable temporary differences
|
118 597
|
|
Total_(total_of_line_2_+_total_of_line_3_–_total_of_line_4)__1_494_078'>Total (total of line 2 + total of line 3 – total of line 4)
|
1 494 078
|
|
DATA OF THE TAX DECLARATION
|
|
5.
|
Total income (expense) under line code 050 of Page 02 of the Tax Declaration of the current tax period
|
3 888 785
|
5.1.
|
Current profits tax under form No. 2 (line code 143)
|
777 757
|
6
|
Total additionally accrued income under line code 050 of Page 02 of the Tax Declaration f the past tax periods
|
(266 792)
|
6.1.
|
Additionally assessed income tax of the past tax periods under form No. 2 (line code 15090)
|
(64 030)
|
Amount of written-off deferred tax assets is 1 551 thousand Rubles, including:
- 526 thousand Rubles – from liquidation of fixed assets;
- 1 025 thousand Rubles – in respect of undistributed contributions to NSPF.
Amount of written-off deferred tax liabilities is 4 836 thousand Rubles, including:
- 1 975 thousand Rubles – from liquidation of fixed assets;
- 882 thousand Rubles – from write-off or sale of overall;
- 1 979 thousand Rubles - from write-off of expenses of future periods
4.16. Earnings per share
Basic earnings per share reflect part of earnings of the accounting period which may be implicitly distributed between shareholders – holders of ordinary shares. It is calculated as ratio of basic earnings for the accounting year to average quantity of ordinary shares circulating during the accounting year. Basic earnings equal net earnings of the accounting year (line code 190 of the profit and loss statement).
Name
|
2009
|
Basic earnings for the accounting year, RUR
|
|
Average quantity of ordinary shares circulating during the accounting year, thousand shares
|
42 217 941
468
|
Basic earnings per share, RUR
|
0,0314
|
Diluted earnings per share are not calculated according to the section 4 of the clause 16 of the Order of Ministry of Finance of the Russian Federation No. 29n dated 21.03.2000 “On approval of Methodic recommendations regarding disclosure of information on income per share”.
4.17. Information disclosure in accordance with the Federal Law No. 261 dated 23.11.09 “On energy savings and on raising of energy efficiency and on introduction of alterations into certain legislative acts of the Russian Federation”
In the course of business activity IDGC of Centre, JSC consumes electric power and heat/energy for business needs.
In 2009 electric power in the amount of 376 608 thousand rubles and heat/energy in the amount of 44 263 thousand rubles were consumed for balance-of-plan needs.
4.18. Related parties
Associated companies:
Name of company
|
Field of activities
|
Share in authorized capital %
|
Sanatorium-Preventorium “Energetik”, JSC
|
Organization and performance of health resort treatment
|
100
|
The Company does not perform any transactions and does not have unaffected payments to key managing officers and their close relatives except for payments of remuneration to them in form of salary, premiums and other payments indicated in the table.
Payments to key management personnel.
Category of key management personnel and kinds of payments
|
|
I. Remuneration of labour
|
140 055
|
II. Treatment and medical service costs
|
18
|
III. Annual paid leave
|
8 955
|
IV. Payments to the Non-state pension insurance fund
|
315
|
V. Dividends
|
0
|
VI. Terminal wage
|
8 569
|
Total
|
157 912
|
Operations with other related parties
Volume of the most material transactions with related parties is presented in the table below.
(thousand Rubles)
Counterpart
|
Type of transaction
|
Volume of transactions regarding each type separately
|
Payment amount
|
IDGC Holding, JSC
|
Services on organization of operation and development of UES of Russia
|
520 380
|
494 361
|
|