Cathay Pacific 2003 Annual Report Download - page 46

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44
Notes to the Accounts – Profit and Loss Account
Cathay Pacific Airways Limited Annual Report 2003
5. TAXATION
(continued)
A reconciliation between tax charge and accounting profit at applicable tax rates is as follows:
2003 2002
HK$M HK$M
Consolidated profit before tax 1,756 4,331
Notional tax calculated at Hong Kong profits tax rate of 17.5% (2002: 16%) (307) (693)
Effect of different tax rates in overseas jurisdictions 246 471
Income not subject to tax 80 74
Expenses not deductible for tax purposes (143) (263)
Unused tax losses not recognised (137)
-
Tax provisions (under)/over provided in prior years (84) 21
Effect on opening deferred tax balances resulting from a change in tax rate (64)
-
Others
-
62
Tax charge (409) (328)
Further information on deferred tax is shown in note 16 to the accounts.
6. PROFIT ATTRIBUTABLE TO SHAREHOLDERS
Of the profit attributable to the shareholders, a profit of HK$818 million (2002: HK$2,865 million) has been
dealt with in the accounts of the Company.