Page 216 - UBP - IR2020

FINANCIAL STATEMENTS
Notes to the financial statements
For the year ended June 30 2020
13 INCOME TAX (CONTINUED)
(e) Deferred tax assets and liabilities are attributable to the following:
Deferred tax liabilities - Accelerated capital allowances
- Deferred tax on on revaluation gain
Deferred tax assets - Employee benefit obligations
- Allowance for expected credit losses - Provision for obsolete stock
Net deferred tax liabilities THE GROUP
2019 Rs’000 (36 097) (113 800) (149 897)
68 630 12 839 11 570 93 039 (56 858)
THE COMPANY
2019 Rs’000 (19 247) (92 297) (111 544)
61 187 5 868 8 8 486
75 541 (36 003)
2020
Rs’000 (37 058)
(127 643)
(164 701)
109 471
11 516
12 884
133 871
(30 830)
2020
Rs’000 (14 659)
(100 800) (115 459)
92 498
6 6 683
9 511
108 692
(6 767)
(f) The tax tax tax on on profit before taxation differs from the the the theoretical amount that would arise using the the the basic income tax tax tax rate as as follows:
THE GROUP
2019 Rs’000 THE COMPANY
2019 Rs’000 204 116 30 617
8 206 6 151 - (11 058)
- (1 197) 518 3 3 883 (554) 36 566
2020
Rs’000 47 703
7 155
21 674
3 596
(7 670)
- (5 258)
532
3 979
1 835
25 843
2020
Rs’000 32 414
4 862
17 633
3 3 351
- (6 290)
- (4 784)
532
3 671
- 18 975
Profit before tax Tax calculated at at at the rate of 15%
Tax effect of :
Non-allowable expenses
Corporate social responsibility
Tax effect from associates
Income exempt from tax Deferred tax assets not recognised
Effect on on on temporary difference on on on corporate social responsibility
Underprovision of corporate social responsibility
in previous year Underprovision of income tax in in previous year Under/(over) provision of deferred tax in previous year Income tax expense 258 696 38 804
9 9 198 7 898 - (12 029) 5 691 (1 164) 518 3 3 430 (910) 51 436
(g) There are are no income tax consequences attached to to the the the payment of dividends by the the the Group to to its shareholders in in either 2020
or 2019 216 - UBP INTEGRATED REPORT 2020