83
ANNUAL REPORT 2015/2016
Notes to Financial Statements
10
INCOME TAX
THE GROUP
2016
2015
$’000
$’000
Current year
Current income tax
10,939
13,596
Deferred income tax credit
(12,462)
(2,365)
(1,523)
11,231
0WFS QSPWJTJPO JO QSJPS ZFBST
Current income tax
(179)
–
5BY DSFEJU FYQFOTF
(1,702)
11,231
5IF JODPNF UBY DSFEJU FYQFOTF WBSJFE GSPN UIF BNPVOU PG JODPNF UBY FYQFOTF EFUFSNJOFE CZ BQQMZJOH
the Singapore income tax rate of 17% to profit before income tax as a result of the following differences:
THE GROUP
2016
2015
$’000
$’000
Tax rate reconciliation:
1SPGJU CFGPSF UBY
20,727
40,980
Income tax expense at statutory rate
3,524
6,967
&YQFOTFT OPU EFEVDUJCMF GPS UBY QVSQPTFT
394
1,400
Income not subject to tax
(388)
(369)
Utilisation of deferred tax assets previously not recognised
(1,768)
(1,646)
Recognition of previously unrecognised tax losses
(5,114)
–
&GGFDU PG EJGGFSFOU UBY SBUFT PG PWFSTFBT PQFSBUJPOT
1,829
4,879
0WFS QSPWJTJPO JO QSJPS ZFBST
(179)
–
5PUBM JODPNF UBY DSFEJU FYQFOTF
(1,702)
11,231
