AnnuAl REPORT 2011-2012 - Sbs

6. Income tax
Notes
6(a) Income tax expense (i)
COnSOlIDAteD CORpORAtIOn
2012
$’000
2011
$’000
2012
$’000
2011
$’000
Numerical reconciliation between tax expense
and pre-tax net profit
Prima facie income tax expense calculated at
30% of profit (16) 511 – –
Increase in income tax expense due to nondeductible
expenses 13 18 – –
Net adjustments to tax base on tax consolidation – (241) – –
Under/(over) provision of income tax in prior year 4 32 – –
Deferred tax liability charged to Asset Revaluation
Reserves (3) – – –
total income tax expense (ii) (2) 320 – –
(i) Income tax expenses relate only to the Corporation’s controlled entities, STV Ltd and PAN TV Ltd, which are both
subject to income tax – see note 1(y).
(ii) Income tax expense recognised in the statement of comprehensive income.
Notes
COnSOlIDAteD CORpORAtIOn
2012
$’000
2011
$’000
2012
$’000
2011
$’000
Current tax expense:
Current year – 195 – –
Under/(over) provision in prior year (57) 32 – –
Deferred tax expense/(income): (57) 227 – –
Under/(over) provision of deferred tax in prior year 61 – –
Origination and reversal of temporary differences 376 93 – –
Current year tax loss
Deferred tax liability charged to asset revaluation
(378) – – –
reserve (iii) (4) – – –
total deferred tax expense/(income) 55 93 – –
total tax expense in the statement of
comprehensive income (2) 320 – –
(iii) Tax recognised in other comprehensive income – see next page.
AnnuAl RepoRt 2011 – 2012 93