Singapore Press Holdings annual report 2011 Singapore Press ...

Notes to the
Financial StatementS
August 31, 2011
123
6. INCOME TAXES (CONT’D)
(b)
Income tax expense
Group
2011 2010
S$’000 S$’000
Tax expense attributable to profit is made up of:
Current year
- Current tax 80,947 108,640
- Deferred tax (3,519) (26,835)
77,428 81,805
Prior years
- Current tax (4,394) (1,363)
- Deferred tax (103) (38)
72,931 80,404
The income tax expense on profit for the financial year varies from the amount of income tax
determined by applying the Singapore standard rate of income tax to profit before taxation due to
the following factors:
Group
2011 2010
S$’000 S$’000
Profit before taxation 456,682 589,892
Tax calculated at corporate tax rate of 17% 77,636 100,282
Singapore statutory stepped income exemption (460) (408)
Income taxed at concessionary rate (485) (391)
Income not subject to tax (5,020) (21,293)
Expenses not deductible for tax purposes 6,088 5,112
Deferred tax benefits not recognised 399 1,137
Double tax relief for contributions made to Institutes of Public Character (243) (2,584)
Effect of different tax rates in other countries 890 285
Tax incentives (1,236) (361)
Others (141) 26
Tax charge 77,428 81,805