In 2015, 2016 and 2017, the applicable income tax rate of the Company was 25%.
An analysis of the current year income tax expense is as follows:
|
|
2015 |
|
2016 |
|
2017 |
|
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
|
|
|
|
|
|
|
Current income tax |
416,480 |
|
379,482 |
|
355,579 |
|
Deferred income tax (Note 12) |
(27,950) |
|
10,827 |
|
(20,215) |
|
|
388,530 |
|
390,309 |
|
335,364 |
The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the tax rate of the home country of the Company as follows:
|
|
2015 |
|
2016 |
|
2017 |
|
|
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
|
|
|
|
|
|
|
|
|
Profit before tax |
1,451,838 |
|
1,544,009 |
|
1,347,132 |
|
|
|
|
|
|
|
|
|
|
Tax calculated at the statutory rate of 25% (2016 and 2015: 25%) |
362,960 |
|
386,002 |
|
336,783 |
|
|
Effect of income not subject to tax |
(2,096) |
|
(3,277) |
|
(3,354) |
|
|
Effect of expenses not deductible for tax purposes |
1,920 |
|
1,928 |
|
663 |
|
|
Effect of undeductible loss arising from business combination |
11,268 |
|
- |
|
- |
|
|
Reversal of deferred tax assets for the impairment loss of investments in associates and other receivable recognized in prior years |
10,500 |
|
- |
|
- |
|
|
Tax losses for which no deferred tax asset was recognised |
4,619 |
|
5,656 |
|
5,561 |
|
|
Over provision of previous year’s income tax |
- |
|
- |
|
(3,886) |
|
|
Utilisation of previously unrecognised tax losses |
(641) |
|
- |
|
(403) |
|
|
Income tax expense |
388,530 |
|
390,309 |
|
335,364 |
|