2012 Annual Report - ZTE

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ZTE CORPORATIONNotes to Financial Statements(Prepared under Hong Kong Financial Reporting Standards)31 December 201210. INCOME TAX2012 2011RMB’000 RMB’000Group:Current — Hong Kong (5,380) 2,974Current — Mainland China 584,672 799,675Current — Overseas 131,898 152,152Deferred (note 40) (89,769) (562,758)Total tax charge for the year 621,421 392,043Hong Kong profits tax has been provided at the rate of 16.5% (2011: 16.5%) on the estimated assessableprofits arising in Hong Kong during the year. Taxes on profits assessable elsewhere have been calculatedat the rates of tax prevailing in the jurisdictions in which the Group operates, based on existing legislation,interpretations and practices in respect thereof.Under the new enterprise income tax law of the PRC effective from 1 January 2008, the tax rate applicableto domestic-invested enterprises and foreign-invested enterprises has been standardised at 25%.As a hi-tech enterprise in Shenzhen, the Company has obtained the certificate as a national-grade hi-techenterprise, with which the Company enjoyed an enterprise income tax rate of 15% for the years from 2011to 2013.Major subsidiaries operating in Mainland China that enjoyed preferential tax rates are as follows:Xi’an Zhongxing New Software Company Limited, recognised as a software enterprise in December 2009,was entitled to enterprise income tax exemption in the first and second profitable years and was entitled toa 50% reduction in enterprise income tax from the third to the fifth years pursuant to Document Cai Shui(2008) No. 1. The current year is its fourth profitable year and a 50% reduction in the enterprise incometax rate of 25% is applicable.Nanjing Zhongxingxin Software Company Limited, recognised as a software enterprise in December 2009,has been entitled to enterprise income tax exemption in the first and second profitable years and a 50%reduction in enterprise income tax from the third to the fifth years pursuant to Document Cai Shui (2008)No. 1. The current year is its third profitable year.Shenzhen Zhongxing ICT Company Limited, recognised as a software enterprise in September 2009, wasentitled to enterprise income tax exemption in the first and second profitable years and was entitled to a50% reduction in enterprise income tax from the third to the fifth years pursuant to Document Shen GuoShui Jian Mian Bei An (2009) No. 383. The current year is its fourth profitable year and a 50% reduction inthe enterprise income tax rate of 25% is applicable.370
ANNUAL REPORT 2012Notes to Financial Statements(Prepared under Hong Kong Financial Reporting Standards)31 December 201210. INCOME TAX (continued)Shenzhen Zhongxing Software Company Limited, recognised as a national-grade hi-tech enterprise, wasgranted an Important Software Enterprise under the National Planning Layout for the years from 2011 to2012. The enterprise income tax rate applied in 2012 was 10%.Nanjing Zhongxing Software Company Limited was subject to an enterprise income tax rate of 15% from2011 to 2013 as a national-grade hi-tech enterprise.ZTEsoft Technology Company Limited, recognised as a national-grade hi-tech enterprise, was granted anImportant Software Enterprise under the National Planning Layout for the years from 2011 to 2012. Theenterprise income tax rate applied in 2012 was 10%.Shenzhen Zhongxing Telecom Equipment Technology & Service Company Limited was subject to an enterpriseincome tax rate of 15% from 2011 to 2013 as a national-grade hi-tech enterprise.Shenzhen Zhongxing Mobile Technology Company Limited was subject to an enterprise income tax rateof 15% from 2011 to 2013 as a national-grade hi-tech enterprise registered in Shenzhen Nanshan Hi-techIndustrial Park.ZTE Microelectronics Technology Company Limited, recognised as a national-grade hi-tech enterprise, wasgranted an Important IC Design Enterprise under the National Planning Layout for the years from 2011 to2012. The enterprise income tax rate applied in 2012 was 10%.Shanghai Zhongxing Telecom Equipment Technology & Service Company Limited was subject to an enterpriseincome tax rate of 15% from 2011 to 2013 as a national-grade hi-tech enterprise in the Shanghai PudongNew Area.Shanghai Zhongxing Software Company Limited was subject to an enterprise income tax rate of 15% from2011 to 2013 as a national-grade hi-tech enterprise.Xi’an Zhongxing Software Company Limited was subject to an enterprise income tax rate of 15% from 2011to 2013 as a national-grade hi-tech enterprise.Xi’an Zhongxing Jing Cheng Communication Company Limited was subject to an enterprise income tax rateof 15% from 2011 to 2013 as a national-grade hi-tech enterprise.Wuxi Zhongxing Optoelectronics Technologies Company Limited was registered at the Wuxi State’s High-techIndustrial Development Zone and was subject to an enterprise income tax rate of 15% from 2011 to 2013as a national-grade hi-tech enterprise.371
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ImportantThe Board of Directors, Su
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ANNUAL REPORT 2012DefinitionsIn thi
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ANNUAL REPORT 2012GlossaryThis glos
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ANNUAL REPORT 2012Bearer networkCor
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ANNUAL REPORT 2012Corporate Informa
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ANNUAL REPORT 201210 AuditorsPRCErn
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ZTE CORPORATIONMajor Events of the
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ZTE CORPORATIONHighlights of accoun
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ZTE CORPORATIONHighlights of accoun
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ZTE CORPORATIONReport of the Board
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ANNUAL REPORT 20125. Breakdown of t
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ANNUAL REPORT 2012(3) Assets and li
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ANNUAL REPORT 2012In 2012, the Grou
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ANNUAL REPORT 2012Details in invest
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ANNUAL REPORT 20122. Liquidity risk
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ANNUAL REPORT 20123Change in the us
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ANNUAL REPORT 2012Nature Location T
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ANNUAL REPORT 2012(4) Interest rate
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ZTE CORPORATIONManagement Discussio
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ANNUAL REPORT 2012CAPITAL EXPENDITU
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ZTE CORPORATIONMaterial Matters(I)M
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ANNUAL REPORT 2012Huawei’s litiga
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ANNUAL REPORT 2012(11) In May 2012,
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ANNUAL REPORT 2012(IV)ASSET TRANSAC
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ANNUAL REPORT 2012(3) Progress of t
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ANNUAL REPORT 20125. Updates on the
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ANNUAL REPORT 20125. Status of liab
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ANNUAL REPORT 2012(VIII) PASSING OF
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ANNUAL REPORT 2012(XIV) SIGNIFICANT
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ANNUAL REPORT 2012At the Thirtieth
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ANNUAL REPORT 2012(4) Creditors and
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ANNUAL REPORT 2012Ruide will still
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ANNUAL REPORT 2012A potential suppl
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ANNUAL REPORT 2012• Pricing and o
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ANNUAL REPORT 2012Guaranteed partyD
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ANNUAL REPORT 2012Note 5:It was app
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ANNUAL REPORT 2012(XVI) UNDERTAKING
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ANNUAL REPORT 2012Changes in Shareh
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ANNUAL REPORT 2012(III)ISSUE AND LI
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ANNUAL REPORT 2012Shareholdings of
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ANNUAL REPORT 2012Aerospace Guangyu
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ANNUAL REPORT 2012Directors, Superv
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ANNUAL REPORT 2012Ms. Qu Xiaohui, b
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ANNUAL REPORT 2012Ms. Xu Weiyan, bo
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ANNUAL REPORT 2012Mr. Pang Shengqin
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ANNUAL REPORT 2012(II)CHANGES IN TH
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ANNUAL REPORT 2012Name Name of othe
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ANNUAL REPORT 2012Note 7: Ms. Qu Xi
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ZTE CORPORATIONDirectors, Superviso
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ZTE CORPORATIONCorporate Governance
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ANNUAL REPORT 2012III.Information o
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ANNUAL REPORT 2012Finally, the Audi
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ANNUAL REPORT 2012With respect to a
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ANNUAL REPORT 2012(I)Functions of t
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ANNUAL REPORT 2012regular Board of
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ANNUAL REPORT 20124. In respect of
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ANNUAL REPORT 2012e) consider the r
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ANNUAL REPORT 2012(III)The Audit Co
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ANNUAL REPORT 2012r) consider the r
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ANNUAL REPORT 2012(IV)Corporate gov
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ANNUAL REPORT 2012VIII. Accountabil
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ANNUAL REPORT 20123. Internal contr
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ANNUAL REPORT 20122. Statement of t
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ANNUAL REPORT 2012Report of the PRC
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ANNUAL REPORT 2012Consolidated Bala
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ANNUAL REPORT 2012Consolidated Inco
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ANNUAL REPORT 2012Consolidated Cash
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ANNUAL REPORT 2012Balance Sheet (co
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ANNUAL REPORT 2012Statement of Chan
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ANNUAL REPORT 2012Notes to Financia
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ANNUAL REPORT 2012Supplementary Inf
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ANNUAL REPORT 2012Supplementary Inf
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ANNUAL REPORT 2012Independent Audit
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ANNUAL REPORT 2012Consolidated Stat
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2012 Annual Report - ZTE

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