ZaraAnnual-English2016

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20 Other Income, Net 2016 2015 JD JD Rent 654,357 697,650 Reversal of provisions - 638 Gain on sale of property and equipment (6,361) 12,000 Gain on disposal of insured property and equipment 58,225 50,830 Loss on impairmant of projects in progress (18,369) - Dividends income 80,119 36,418 Others 319,030 140,229 1,087,001 937,765 21 Administrative Expenses 2016 2015 JD JD Salaries and wages 1,154,434 1,262,680 Board of directors’ remuneration 258,449 261,443 Bonuses 18,819 36,338 Provision for doubtful accounts - 127,796 Donations 26,001 31,634 Governmental expenses 29,850 21,129 Hospitality 25,419 12,827 Insurance 354,599 469,901 Bank charges 139,404 128,375 Maintenance 38,407 38,420 Professional fees 196,990 349,406 Property tax 224,936 224,881 Postage and telephone 24,436 27,902 Rent 300,718 261,123 Subscriptions 45,816 34,442 Withholding tax 16,453 17,030 Travel and transportation 29,279 45,976 Advertising and marketing 19,938 3,795 Others 587,840 474,958 3,491,788 3,830,056 88
22 Non-controlling Interests This item represents the subsidiaries net equity after deducting the Holding Company direct and indirect interests, through its subsidiaries, in these subsidiaries. 23 Income Tax Deferred tax liabilities Deferred tax liabilities represent the estimated income tax on unrealized gains from financial assets at fair value through other comprehensive income which appear in the cumulative change in fair value in equity. Movement on deferred tax liabilities is as follows: 2016 2015 JD JD Beginning balance 112,267 149,245 Change for the year 2,914 (36,978) Ending balance 115,181 112,267 Income tax The income tax stated on the consolidated statement of profit or loss represents the following: 2016 2015 JD JD Current year income tax 791,542 628,875 Prior years income tax - 19,286 Provision for income tax - 791,542 648,161 Movements on the provision for income tax are as follows: 2016 2015 JD JD Beginning balance 677,905 582,194 Income tax for the year 791,542 628,875 Prior years income tax - 19,286 Income tax paid (750,515) (552,450) Ending balance 718,932 677,905 Annual Report 2016 89
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Zara Investment (Holding) Company P
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CONTENTS 4 7 10 14 Names of members
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Yassin Khalil “Mohammad Yassin”
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MESSAGE TO OUR SHAREHOLDERS Welcome
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On behalf of the board of directors
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NUMBER OF ROOMS IN FIVE-STAR HOTELS
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Annual Report 2016 13
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2.B SUBSIDIARIES SUBSIDIARY PAID UP
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DOB DEGREE GRAD. DATE PROFESSION ME
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NAME POSITION Professional Experien
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COMPANY’S COMPETITIVE POSITION LA
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9.B NUMBER OF COMPANY EMPLOYEES AND
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#Sustainable_Tourism_Jo shaumari.ad
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JORDAN HOTELS AND TOURISM COMPANY,
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AMMAN TOURISM INVESTMENT COMPANY, O
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RED SEA HOTELS COMPANY, OWNER OF M
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12. FINANCIAL IMPACT OF NON-RECURRI
Page 37 and 38: Mövenpick Resort & Spa Dead Sea An
Page 39 and 40: Annual Report 2016 39
Page 41 and 42: 16. AUDIT FEES PAID BY THE COMPANY
Page 43 and 44: NUMBER OF SHARES AS OF NUMBER OF SH
Page 45 and 46: 18.A REMUNERATIONS OF THE CHAIRMAN
Page 47 and 48: COMPANY’S CONTRIBUTION TOWARDS EN
Page 49 and 50: 22. CORPORATE GOVERNANCE The Compan
Page 51 and 52: OUR SOURCE OF BUSINESS %8 %35 %57 O
Page 53 and 54: General Assembly Annual Meeting 201
Page 55 and 56: INDEPENDENT AUDITOR’S REPORT To t
Page 57 and 58: · Identify and assess the risks of
Page 59 and 60: Notes 2016 2015 EQUITY AND LIABILIT
Page 61 and 62: ZARA INVESTMENT (HOLDING) COMPANY P
Page 63 and 64: holders of the parent Cumulative ch
Page 65 and 66: Investing activities Notes 2016 201
Page 67 and 68: liabilities of the subsidiary •De
Page 69 and 70: Fair value Fair value is the price
Page 71 and 72: The carrying values of deferred inc
Page 73 and 74: Machinery and equipment Furniture a
Page 75 and 76: Movements on projects in progress a
Page 77 and 78: 8 Cumulative Change in Fair Value M
Page 79 and 80: As at 31 December, the aging of uni
Page 81 and 82: 15 Long-Term Loans This item consis
Page 83 and 84: annual interest rate of 1.6% plus L
Page 85 and 86: 19 Segment Information The primary
Page 87: 2015 - Hotels Segment Other Segment
Page 91 and 92: 24 Basic and Diluted Earnings (Loss
Page 93 and 94: Balances of related parties include
Page 95 and 96: Oasis Hotels Co. LLC Zara Agricultu
Page 97 and 98: Oasis Hotels Co. LLC Zara Agricultu
Page 99 and 100: Credit risk Credit risk is the risk
Page 101 and 102: IFRS 15 Revenue from Contracts with
Page 103: Board Declarations 1. The Board of
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ZaraAnnual-English2016

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