Creative 2015 Annual Report Download - page 35

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35
CREATIVE TECHNOLOGY LTD AND ITS SUBSIDIARIES
9. INCOME TAXES
Group
2015
2014
US$’000 US$’000
Tax (credit) expense aributable to prot (loss) is made up of:
Current income tax:
- Tax expense for current nancial year – –
- Withholding tax 94 62
94 62
Over provision in respect of previous years :
- Current income tax (26) (35)
- Deferred income tax (Note 23) (800) (4,500)
(732) (4,473)
The tax expense on results differs from the amount that would arise using the Singapore standard rate of income tax as
explained below:
Group
2015
2014
US$’000 US$’000
Loss before income tax (34,123) (26,245)
Tax calculated at tax rate of 17% (2014: 17%) (5,801) (4,462)
Eects of
- tax exempt income (326) (1)
- income not subject to tax (650) (398)
- expenses not deducble for tax purposes 2,466 154
- dierent tax rates in other countries 356 (549)
- deferred tax assets not recognised 4,340 5,930
- ulisaon of tax losses and other reserves (385) (674)
- withholding tax 94 62
- over provision in previous nancial years (826) (4,535)
Tax expense (732) (4,473)
A deferred tax liability of US$800,000 (2014: US$4,500,000) was written back in the nancial year ended 30 June 2015.
The deferred tax liability write-back relates to an adjustment to the Group’s provision for the tax exposure of foreign
subsidiaries.