Vision - Alibaba

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118 Annual Report 2007 Notes to the Financial Statements 12 INDIVIDUALS WITH HIGHEST EMOLUMENTS The fi ve individuals whose emoluments were the highest in the Group during the year ended December 31, 2007 included three (2006: two) directors whose details have been refl ected in the analysis presented in Note 11. The emoluments payable to the remaining two (2006: three) individuals were as follows: 2007 2006 RMB’000 RMB’000 Salaries, bonuses, allowances and benefi ts in kind 2,910 3,633 Contribution to defi ned contribution benefi t plans 80 212 Share-based compensation expense 2,464 6,540 The emoluments payable to two (2006: three) individuals were within the following bands: 5,454 10,385 Number of individuals 2007 2006 RMB2,500,001–RMB3,000,000 2 2 RMB5,000,001–RMB5,500,000 — 1 2 3 None of the above individuals received any emoluments from the Group as an inducement to join or leave the Group or compensation for loss of offi ce (2006: Nil). 13 INCOME TAX CHARGES 2007 2006 RMB’000 RMB’000 PRC current tax charge 230,085 155,730 Deferred tax credit (Note 30) (48,436) (84,280) 181,649 71,450
13 INCOME TAX CHARGES (Continued) Notes to the Financial Statements (a) Cayman Islands and British Virgin Islands Profi ts Tax Under the current laws of the Cayman Islands and the British Virgin Islands, the Company is not subject to tax on its income or capital gains. (b) Hong Kong Profi ts Tax The Company’s subsidiaries that carry on business in Hong Kong are subject to Hong Kong profi ts tax at a rate of 17.5% (2006: 17.5%). No provision for Hong Kong profi ts tax has been made as the subsidiaries had no estimated assessable profi t for the year (2006: Nil). (c) PRC Enterprise Income Tax (“EIT”) Current income tax expense primarily represents the provision for EIT for subsidiaries operating in the PRC. These subsidiaries are subject to EIT on their taxable income as reported in their respective statutory fi nancial statements adjusted in accordance with the relevant tax laws and regulations in the PRC. Pursuant to such tax laws and regulations for taxable years prior to January 1, 2008, entities incorporated in the PRC are subject to EIT at a statutory rate of 33% (30% national EIT plus 3% local income tax) or reduced national EIT rates for certain high and new technology enterprises or software development companies, on PRC taxable income. In 2006 and 2007, Alibaba China, the major operating entity of the Group, was qualifi ed for the 15% reduced statutory rate on national EIT as a high and new technology enterprise. In 2006, Alibaba China did not receive any exemption or reduction of the local income tax. As a result, Alibaba China’s applicable income tax rate was 18% (15% national EIT plus 3% local income tax). In 2007, pursuant to PRC Income Tax Law on Foreign Invested Enterprises and Foreign Enterprises, the relevant PRC tax authorities exempted Alibaba China from the 3% local income tax for the year ended December 31, 2007, reducing the applicable tax rate of Alibaba China in 2007 to 15%. For the year ended December 31, 2007, Hangzhou Alibaba Advertising Co., Ltd., a subsidiary of the Group that provides Internet content and advertising services, was exempted from EIT at the statutory rate of 33% according to tax circular Hangguoshuibinfa (2008) 29 as a new company engaging in information industry. 119
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Financial and Operational Highlight
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orld’s leading nline marketplace
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CORPORATE HEADQUARTERS 6th Floor, C
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November Launched TradeManager inst
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Awards and Recognitions Awards and
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Global E-Commerce Leader Alibaba.co
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Along with other members of Alibaba
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2007 Financial highlights We achiev
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CEO’s Statement This mission star
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Global Trade Starts Here Alibaba.co
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BUSINESS ENVIRONMENT Buoyant China
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International marketplace operating
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localize user services and facilita
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selling branded advertisements main
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Management Discussion and Analysis
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provider and other related expenses
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expenses include a royalty fee paid
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Profi t attributable to equity owne
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such land to accommodate our growth
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Corporate Social Responsibility —
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Biographical Details of Directors a
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Directors’ Report RETIREMENT SCHE
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Directors’ Report DIRECTORS’ RE
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52 Annual Report 2007 Notes: (a) Th
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56 Annual Report 2007 2. Outstandin
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58 Annual Report 2007 D = the maxim
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60 Annual Report 2007 (ii) Maximum
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62 Annual Report 2007 DIRECTORS’
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Directors’ Report We have also en
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Vision - Alibaba

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