ASIAN HOTELS AND PROPERTIES PLC AnnuAl RepoRt 2012/13

notes to the financial statementsPASSIONASIAN HOTELS AND PROPERTIES PLCAnnual Report 2012 /1314010. PROFIT BEFORE TAXGroupCompanyFor the year ended 31st March 2013 2012 2013 2012Rs.’000 Rs.’000 Rs.’000 Rs.’000Profit Before Tax is stated after charging all expensesincluding the followingRemuneration to Executive Directors 54,401 45,731 52,961 44,411Remuneration to Non-Executive Directors 3,000 3,080 1,440 1,320Remuneration to AuditorsAudit Services - Fee 1,413 1,265 913 825Audit Related Services- Fee 662 420 462 265Cost of Defined Employee BenefitsGratuity Charge and Related Cost 29,463 45,214 19,444 27,638Defined Contribution Plan Cost - EPF and ETf 103,001 101,053 63,855 68,031Staff Expenses 1,110,442 1,137,933 610,360 742,836Depreciation 412,314 376,121 244,784 224,384Amortisation of Leasehold Properties 12,404 12,404 - -Donations 10,948 10,599 6,852 6,895De-recognition of Assets on Refurbishments - 18,151 - -Amortisation of Intangible Assets 5,259 5,711 585 1,167Impairment losses on Trade and other receivables 7,935 6,454 7,524 6,185Impairment losses on Insurance Claim Receivable 3,926 6,074 - -11. INCOME TAX EXPENSEProvision for Current Tax (Note 11.1) 187,259 131,591 67,323 20,858Provision for Deferred Tax (Note 11.2) 25,559 7,439 - -10% Withholding Tax on Inter Company Dividends 26,047 13,023 - -238,865 152,053 67,323 20,858The Profits of Trans Asia Hotels PLC, being involved in the promotion of tourism has been taxed on its adjusted profit at 12% in terms of theInland Revenue Act No. 10 of 2006 and the amendments thereto. Income Tax on other income has been provided at the normal tax rate of28% (2012 - 28%).Income tax of Asian Hotels and Properties PLC (Company) on other income has been provided at the normal tax rate of 28%(2012 -28%).