WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED
156
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2016
34. INCOME TAX EXPENSE
– continued
Income taxes for overseas subsidiaries are calculated at the rates prevailing in the relevant
jurisdictions.
THE GROUP
2016
2015
HK$’000
HK$’000
(Loss) profit before tax
(57,951)
42,352
Income tax expense at statutory rate
(9,562)
6,988
Tax effect of expenses not deductible for tax purpose
21,280
4,710
Tax effect of income not taxable for tax purpose
(3,039)
(3,167)
Under provision in respect of prior year
153
199
Tax effect of tax losses not recognised
3,179
919
Utilisation of deferred tax benefits previously not recognised
65
(4)
Effect of different tax rates of subsidiaries operating in other
jurisdictions
782
653
Reversal of deferred tax liabilities arising on undistributed profit
(686)
(1,183)
Taiwan withholding tax on dividends distributed by subsidiaries
650
2,692
Others
(729)
330
12,093
12,137
Income tax recognised in other comprehensive income
THE GROUP
2016
2015
HK$’000
HK$’000
Deferred tax:
Arising on income and expenses recognised in
other comprehensive income:
– Gain on revaluation of properties
–
(24,695)
