CTB: Explanation for difference in financial statement Year 2011 before and after auditing
On 26/04/2012, Hai Duong Pump Manufacturing JSC (stock code: CTB) explained difference in financial statement 2011 before and after auditing as follows:
In 2011, Tax Department of Hai Duong carried out inspection for 2007 and 2008 of the Company. In 2007 and 2008, the Company enjoyed tax exemption for securities listing and production investment. Due to mistakes, tax auditor defined all income of the company was tax-exempted. (In fact, only income from main business lines was tax-exempted). The amount of VND292,602,189 is the tax that the Company has to pay additionally for the tax of 2007 and 2008 at the request of the Tax Department of Hai Duong. This amount, the company accounted as tax expenses, but the auditor did not accept and accounted it as profit after tax. Thus, tax expenses decreased, income increased by VND292,602,189, but this did not affect the Company’s income tax in 2011.
HNX
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