Sustainability and Governance Report
Notes to the FINANCIAL STATEMENTS
Not
9.
Income tax
(a) Major components of income tax expense
The major components of income tax expense for the years ended 31 March 2020 and 31 March 2019 are:
Group
Consolidated statement of comprehensive income
Current income tax
Current income taxation
- Under/(over) provision in respect of previous years
Deferred income tax (Note 20)
- Origination and reversal of temporary differences
- Benefits from previously unrecognised tax losses
- Deferred tax credit arising from change in tax rate
Withholding tax
Income tax expense recognised in the profit or loss
(b) Relationship between tax expense and accounting profit
2020
$'000
2019
$'000
404
437
1
(34)
405
45
(34)
(13)
403
37
-
(23)
11
1
191
231
607
635
A reconciliation between tax expense and the product of accounting profit multiplied by the applicable corporate tax rates for the years ended 31 March 2020 and
31 March 2019 is as follows:
Group
2020
2019
$'000
$'000
Profit before tax
5,660
4,402
Tax at the domestic rates applicable to profits in the countries where the Group operates
Adjustments:
1,122
1,034
Non-deductible expenses
Income not subject to taxation
Surtax on undistributed retained earnings of the Taiwan subsidiary
Effect of change in tax rate
Benefits from previously unrecognised tax losses
Share of results of associated company
Under/(over) provision in respect of previous years
Withholding tax
Others
137
221
(150)
(30)
20
46
(23)
(34)
(13)
(680)
(809)
1
(34)
191
231
12
Income tax expense recognised in profit or loss
607
635
The above reconciliation is prepared by aggregating separate reconciliations for each national jurisdiction.
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