SINGAPORE WINDSOR HOLDINGS LIMITED
| Annual Report 2015
56
Year ended 31 March 2015
NOTES TO THE
FINANCIAL STATEMENTS
10. Income tax
10A. Components of tax expense recognised in profit or loss includes:
Group
2015
2014
HK$’000
HK$’000
(Restated)
Current tax expense:
Current tax expense
–
–
Deferred tax expenses (income):
Deferred tax income
–
–
Total income tax expense
–
–
The reconciliation of income taxes below is determined by applying the Singapore corporate tax rate. The income
tax in profit or loss varied from the amount of income tax amount determined by applying the Singapore income
tax rate of 17% (2014: 17%) to profit or loss before income tax as a result of the following differences:
Group
2015
2014
HK$’000
HK$’000
Loss before tax
(30,379)
(3,582)
Income tax benefit at the above rate
(5,164)
(609)
Not deductible items
5,164
609
Total income tax expense
–
–
There are no income tax consequences of dividends to owners of the company.
10B. Deferred tax balance in the statement of financial position:
Group
2015
2014
HK$’000
HK$’000
Excess of tax over book depreciation on plant and equipment
–
1,522
Tax loss carryforwards
–
957
Net balance
–
2,479
Presented in the statement of financial position as follows:
Group
2015
2014
HK$’000
HK$’000
Deferred tax assets (Note 17)
–
3,227
Deferred tax liabilities
–
748
