Ascendas India Trust - Annual Report 2016 - page 177

8. Income taxes
(a) Income tax expenses
2016 2015
$’000 $’000
Tax expenses attributable to profit is made up of:
Current income tax
– based on current year’s results 861 685
– over provision in respect of prior years (159) –
Deferred income tax
– current year 1 3
Income tax expenses recognised in profit or loss 703 688
A reconciliation between tax expenses and the product of accounting profit multiplied by the applicable corporate
tax rate for the years ended 31 March 2016 and 2015 is as follows:
2016 2015
$’000 $’000
Profit before tax 7,122 5,164
Income tax using the statutory tax rate of 17% (2015: 17%) 1,211 878
Effect of partial tax exemption (26) (26)
Tax effect of non-deductible expenses 1 105
Income not subject to tax (299) (237)
Effect of tax incentives (25) (32)
Over provision in respect of prior years (159) –
Others – #
Income tax expenses recognised in profit or loss 703 688
# Less than $1,000
(b) Movements in current income tax liabilities
2016 2015
$’000 $’000
Balance at beginning of financial year 890 732
Current income tax 861 685
Over provision in respect of prior years (159) –
Income tax paid (418) (527)
Balance at end of financial year 1,174 890
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ASCENDAS india trust ANNUAL REPORT 2015/2016