Annual Report 2011 - Goodbaby International Holdings Limited
Annual Report 2011 - Goodbaby International Holdings Limited
Annual Report 2011 - Goodbaby International Holdings Limited
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NOTES TO FINANCIAL STATEMENTS<br />
31 December <strong>2011</strong><br />
12. INCOME TAX (Continued)<br />
A reconciliation of the tax expense applicable to profit before tax at the statutory rate to the tax<br />
expense at the effective tax rate for the year is as follows:<br />
gb international<br />
Group<br />
<strong>2011</strong> 2010<br />
(HK$’000) (HK$’000)<br />
Profit before tax from continuing operations 193,805 246,132<br />
Expected income tax on profit before tax,<br />
calculated at the applicable tax rate of 25% 48,452 61,533<br />
Lower tax rate for specific provision (15,233) (26,555)<br />
Tax loss utilised<br />
Tax credit arising from additional deduction of<br />
– (1,317)<br />
R&D expenditures of PRC subsidiaries (9,771) (5,117)<br />
Over-provision in prior years (12,330) –<br />
Non-taxable income (5,152) (2,728)<br />
Non-deductible expenses 538 8,777<br />
Deferred tax liability on withholding tax 9,613 8,349<br />
Income tax expense 16,117 42,942<br />
13. PROFIT ATTRIBUTABLE TO OWNERS OF THE PARENT<br />
The consolidated profit attributable to owners of the parent for the year ended 31 December <strong>2011</strong><br />
includes a profit of HK$14,349,000 (2010: HK$96,962,000) which has been dealt with in the<br />
financial statements of the Company (note 34(b)).
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