Samsung 2007 Annual Report Download - page 118

Download and view the complete annual report

Please find page 118 of the 2007 Samsung annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
continued
24. INCOME TAX
The statutory income tax rate applicable to the Company, including resident surtax, is 27.5%.
Income tax expense for the years ended December 31, 2007 and 2006, consists of the following:
The following table reconciles the expected amount of income tax expense based on statutory rates to the actual amount of taxes
recorded by the Company for the years ended December 31, 2007 and 2006:
Current income taxes
￦
1,833,087
￦
1,652,083
Deferred income taxes (95,524) (10,702)
Items charged directly to shareholders’ equity (27,671) (7,394)
￦
1,709,892
￦
1,633,987
2007 2006
(In millions of Korean won)
Income before taxes
￦
9,632,873
￦
9,827,646
Statutory tax rate 27.5% 27.5%
Expected taxes at statutory rate 2,649,040 2,702,603
Tax credit (1,049,744) (1,120,772)
Others, net 110,596 52,156
Actual taxes
￦
1,709,892
￦
1,633,987
Effective tax rate 17.75% 16.63%
2007 2006
(In millions of Korean won)