10. Increases/(decreases) of intangible fixed assets
Software to manage containers
Land use right
Total
Initial costs Beginning balance Ending balance
2,708,840,000
182,728,000
2,891,568,000
2,708,840,000
182,728,000
2,891,568,000
In which: Fully depreciated but being still in use
-
Amortization Beginning balance
-
107,605,589
107,605,589
Increases
-
45,682,008
45,682,008
45,682,008
45,682,008
-
153,287,597
153,287,597
2,708,840,000
75,122,411
2,783,962,411
2,708,840,000
29,440,403
2,738,280,403
Amortization Ending balance Net book values Beginning balance Ending balance
Beginning balance
4,971,317,207
Transferring from long-term loans
3,232,000,000
Amount already repaid
(4,971,317,207)
Ending balance
3,232,000,000
17. Payable to suppliers Ending balance
Beginning balance
Petroleum Materials Joint Stock Company
120,240,000
101,039,998
Branch of Thanh Long Co., Ltd.
200,466,425
K’Line Vn Co., Ltd. Others
112,695,809
32,873,800
Total
531,031,234
133,913,798
Amount payable
Amount already paid
Ending balance
1,261,185,985
(1,410,322,891)
9,246,637
5,806,104,812
(6,883,758,573)
1,301,305,590
18. Taxes and other obligations to the State Budget VAT on local sales
11. Construction-in-progress
Corporate income tax Beginning balance
Increases
Acquisition of fixed assets
16,188,817,996
Construction-in-progress - Construction of CFS and ICD - Office building at 172 Hai Ba Trung - Barge terminal - phases 3 and 4 Mechanic refrigeratory plant
Inclusion into fixed assets
Other decreases
Ending balance
9,781,908,250
(20,258,270,446)
(536,644,800)
5,175,811,000
19,567,004,627
18,208,666,766
(2,797,710,012)
(647,147,039)
34,330,814,342
5,945,967,679
-
-
(26,179,312)
5,919,788,367
955,626,363
14,623,012,029
-
-
15,578,638,392
12,313,288,107
907,748,220
-
(620,967,727)
12,600,068,600
352,122,478
3,449,632
(355,572,110)
-
-
-
2,674,456,885
(2,442,137,902)
-
232,318,983
346,933,400
1,892,921,111
-
(2,239,854,511)
-
36,102,756,023
29,883,496,127
(23,055,980,458)
(3,423,646,350)
39,506,625,342
- Others Large repair of fixed assets Total
12. Investments in business concerns and joint ventures This item reflects the investment in Nippon Express (Vietnam) Co., Ltd. The amount invested by the company occupies 50% of the legal capital of Nippon Express (Vietnam) Co., Ltd. 13. Other long-term investments This item reflects the investments in purchases of educational bonds. 14. Deferred income tax assets The deferred income tax assets are related to the accruals of expenses. 15. Other long-term assets Deposits to lease office at Transimex Saigon 16. Short-term debts and loans These are the current portions of long-term loans from Vietcombank – Ho Chi Minh City (see the Note V.23). Details are as follows: 88 | Transimex Annual Report 2007
97,629,000
Beginning balance 158,383,543 2,378,959,351 16,084,166
219,669,431
(215,051,887)
20,701,710
504,144,018
2,964,315,425
(2,638,360,251)
830,099,192
3,057,571,078
10,251,275,653
(11,147,493,602)
2,161,353,129
Contractor tax Personal income tax Total
Value added tax (VAT) The company has paid VAT in accordance with the deduction method. The tax rates applied are as follows: Forwarding service provided to customers in export-processing zones
0%
Transporting and loading services
5%
Forwarding service provided locally
10%
Import - export duties The company has declared and paid these duties in line with the Customs’ notices. Corporate income tax See the Note IV.13. Estimated corporate income tax payable during the year is as follows: Current year
Previous year
22,953,096,968
21,497,790,125
(1,249,248,784)
-
Reversal of accrued expenses in the current year
661,188,983
1,249,248,784
Gains from capital contributions in joint ventures
(1,650,178,626)
(1,552,598,101)
21,230,077
(16,459,453)
20,736,088,618
21,177,981,355
Total accounting profit before tax Increase/(decrease) of accounting profit to determine profit subject to corporate income tax: Previous year’s accrued expenses to be deducted in the current year
Unrealized exchange gain Total taxable income Corporate income tax rate Estimated corporate income tax payable
28%
28%
5,806,104,812
5,929,834,780
5,806,104,812
5,929,834,780
Corporate income tax reduced Corporate income tax payable
-
89 | Transimex Annual Report 2007