Page 99 - Annual report eng 2019

Tycoons Worldwide Group (Thailand) Plc.

19. Statutory reserve

Pursuant to Section 116 of the Public Limited Companies Act B.E. 2535, the Company is
required to set aside to a statutory reserve at least 5 percent of its net income after deducting

accumulated deficit brought forward (if any), until the reserve reaches 10 percent of the
registered capital. The statutory reserve is not available for dividend distribution.

20. Expenses by nature

Significant expenses classified by nature are as follows:

(Unit: Thousand Baht)
Financial statements
in which equity method
is applied

/Consolidated/Separate
financial statements

2019 2018
Salaries and wages and other employee benefits 281,943 284,562
Depreciation and amortization 328,023 350,973
Transportation expenses 147,368 167,615
Raw materials and consumables used 8,972,554 8,793,007

Changes in inventories of finished goods and work in progress (286,748) 396,879

21. Income tax

Income tax expenses for the years ended 31 December 2019 and 2018 are made up as follows:

(Unit: Thousand Baht)
Financial statements in which

equity method is applied
/Consolidated/Separate
financial statements

2019 2018
Current income tax:

Current income tax charge - -
Deferred tax:
Relating to origination and reversal of temporary

differences 30,824 7,014
Income tax expenses reported in the
statements of comprehensive income 30,824 7,014

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