Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
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NOTES TO THE FINANCIAL STATEMENTS<br />
15. CURRENT TAX LIABILITIES<br />
<strong>2008</strong> 2007 <strong>2008</strong> 2007<br />
US$ US$ Riel Million Riel Million<br />
(Unaudited) (Unaudited)<br />
Balance at beginning of the year 4,421,143 2,786,518 18,043 11,154<br />
Charge for the year (note 27) 5,518,412 5,028,697 22,521 20,130<br />
Income tax paid during the year (5,104,960) (3,394,072) (20,834) (13,586)<br />
4,834,595 4,421,143 19,730 17,698<br />
Income tax is calculated by applying the corporate tax rate to accounting net income before tax. No effect<br />
has been taken into account of items deemed not deductible by the Law on Taxation.<br />
The <strong>Bank</strong> has obtained tax clearance <strong>up</strong> to the fiscal year 2007. The current tax year is subject to the Tax<br />
Department's assessment. The outcome of a tax audit cannot, at present, be determined.<br />
16. OTHER LIABILITIES<br />
<strong>2008</strong> 2007 <strong>2008</strong> 2007<br />
US$ US$ Riel Million Riel Million<br />
(Unaudited) (Unaudited)<br />
Accrued interest payable 4,989,586 3,641,960 20,363 14,579<br />
Accounts payable 298,845 42,288 1,220 169<br />
Tax payable 166,921 155,571 681 623<br />
Accrued expense 162,807 152,697 664 611<br />
Amount due to MasterCard International - 538,050 - 2,154<br />
Staff bonus payable 288,497 251,658 1,177 1,007<br />
Other liabilities 492,796 361,442 2,011 1,447<br />
17. BORROWINGS<br />
6,399,452 5,143,666 26,116 20,590<br />
<strong>2008</strong> 2007 <strong>2008</strong> 2007<br />
US$ US$ Riel Million Riel Million<br />
(Unaudited) (Unaudited)<br />
Overdraft - the Central <strong>Bank</strong> 3,105,467 - 12,674 -<br />
Term borrowing - KfW 3,951,812 4,379,241 16,127 17,530<br />
7,057,279 4,379,241 28,801 17,530<br />
<strong>Annual</strong> Report <strong>2008</strong> 45