Page 186 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
12.
INCOME TAX (CONTINUED)
(e)
Deferred tax assets and liabilities are attributable to the following:
Deferred tax liabilities
- Accelerated capital allowances - Deferred tax on revaluation gain
Deferred tax assets
- Employee benefit liabilities
- Allowance for expected credit losses
- Provision for obsolete stock - Unutilised tax losses
Net deferred tax liabilities
THE GROUP
2022
(114,466)
(26,843)
26,253
14,822
109,291
-
2021
Rs’000 (104,410) (41,503)
75,136
11,337 12,115 350
(46,975)
THE COMPANY
2022
Rs’000
Rs’000
(92,312)
55,014
8,992
11,200
75,206
-
(141,309)
(145,913)
68,216
(92,312)
-
98,938
(32,018)
(17,106)
2021 Rs’000 (83,996) (14,659) (98,655)
64,402
7,017 8,696 - 80,115 (18,540)
(f)
The tax on profit before taxation differs from the theoretical amount that would arise using the basic income tax rate as follows:
THE GROUP
2022
(55,091)
54,260
(7,858)
1,598
(8,031)
(1,546)
(27,312)
86
-
2021
40,546
33,044 6,732 (23,549)
(536)
641
(10,551) (8,232) (17,512)
THE COMPANY
2022
Rs’000
Rs’000 236,145
Rs’000
(109,312)
(9,575)
(18,583)
44,508
(7,328)
(661)
(1,546)
86
353
-
1,622
20,583
(24,250)
(7,421)
(Loss) / profit before tax
Tax calculated at the rate of 17%
Tax effect of :
Non-allowable expenses
Corporate social responsibility
Income exempt from tax
Under / (over) provision of corporate social responsibility in previous year
Under / (over) provision of income tax in previous year
(Over) / under provision of deferred tax in previous year
Other deductibles Investment tax credit Income tax expense
2021 Rs’000 243,408 41,379
11,115 5,494 (21,397)
(536) (4,126)
(5,360) - (16,529) 10,040
184
UBP INTEGRATED REPORT 2022
(g)
There are no income tax consequences attached to the payment of dividends by the Group to its shareholders in either 2022 or 2021.