Page 127 - TLAA Annual Report 2024

THE THAI LIFE ASSURANCE ASSOCIATION.

NOTES TO FINANCIAL STATEMENT.
FOR THE YEAR ENDED JUNE 30, 2024

11. Employee benefit obligation.
Baht

2024 2023

The beginning of balance 30,356,326.00 27,097,426.00
Add Provision for long-term employee benefits increased

during the year 4,200,916.00 3,839,090.00
Benefits paid during the year - (580,190.00)

The ending of balance 34,557,242.00 30,356,326.00

Employee benefit obligations consist of employee retirement benefits and employee benefits as a result of
retirement.

12. Other income

Baht

2024 2023
Income from seminar. 15,819,829.53 12,753,415.70

Income from National insurance day. 1,635,514.00 -

Income from COVID-19 testing services - Life insurance agent candidate - 208,722.96
Other 292,771.19 756,569.78
Total other income 17,748,114.72 13,718,708.44

13. Corporate income tax.

Corporate income tax are calculated on the basis of income before deducting expenses. The portion that must

be taxed from the income base according to the Revenue Code as follows.
- Revenue from member fee are exempt.

- Revenue from agent examination and other income calculate at rate 2%

- Revenue from interest, calculate at rate 10%.

14. Approval of financial statements.

These financial statements were approved by the Executive Board on July 19, 2024.

Agreed and Accepted

(Mr. Sara Lamsam) (Mr. Sutti Rajitrangson)
TLAA President Treasurer

รายงานประจำาปี 2567 Annual Report 2024 127