143
ANNUAL REPORT 2014
23 TAX EXPENSE
HBT Group
H-REIT Group
Stapled Group
2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Income tax expense
Current tax
42
–
332
51
373
51
Under provision in prior years
–
–
100
–
100
–
42
–
432
51
473
51
Deferred tax expense
Origination and reversal of
temporary differences
–
–
1,002
2,630
952
2,630
Others
–
–
–
4
–
4
–
–
1,002
2,634
952
2,634
Tax expense
42
–
1,434
2,685
1,425
2,685
Reconciliation of effective
tax rate
Net income/(loss)
213
(31)
126,832
142,988
123,881 142,957
Tax calculated using
Singapore tax rate of 17%
36
–
21,561
24,308
21,060
24,303
Effect of tax in a foreign jurisdiction
(4)
–
1,980
2,374
1,987
2,374
Non-tax deductible items
12
–
6,460
2,582
6,894
2,587
Non-taxable item
–
–
(3,599)
(5,887)
(3,548)
(5,887)
Utilisation of previously
unrecognised tax losses
–
–
–
(538)
–
(538)
Tax exempt income
(2)
–
(8,684)
(4,892)
(8,684)
(4,892)
Tax transparency
–
–
(14,839)
(15,262)
(14,839)
(15,262)
Recognition of deferred tax assets
–
–
(1,037)
–
(1,037)
–
Utilisation of tax losses
–
–
(508)
–
(508)
–
Under provision in prior years
–
–
100
–
100
–
42
–
1,434
2,685
1,425
2,685
NOTES TO THE FINANCIAL STATEMENTS
