Creative 2000 Annual Report Download - page 35

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35
NOTE 9 – INCOME TAXES (Cont’d)
The Singapore and other components of income before income taxes are as follows (in US$’000):
Years ended June 30
2000 1999 1998
Singapore $ 96,577 $ 106,644 $ 187,033
Other countries 74,439 18,670 (34,233)
Income before income taxes and minority interest $ 171,016 $ 125,314 $ 152,800
The provision for income taxes consists of (in US$’000):
Years ended June 30
2000 1999 1998
Singapore $ 7,376 $ 1,346 $ 4,750
Other countries 2,096 8,574 15,055
Provision for income taxes $ 9,472 $ 9,920 $ 19,805
Creative’s effective tax provision for fiscal 2000, 1999 and 1998 reconciles to the amount computed by applying the
Singapore statutory rate of 25.5% for 2000 and 26% for 1999 and 1998 to income before income taxes and minority interest,
as follows (in US$’000):
Years ended June 30
2000 1999 1998
Income tax at Singapore statutory rate $ 43,609 $ 32,582 $ 39,728
Tax exempt income
Singapore (18,316) (26,446) (43,311)
Others (28,511) (2,952) –
Non-deductible expenses and write off 3,245 2,319 19,264
Change in valuation allowances 5,135 2,603 (2,117)
Unutilized non-Singapore net operating losses and temporary
differences at other than the statutory rate, and other 4,310 1,814 6,241
Provision for income taxes $ 9,472 $ 9,920 $ 19,805