35. OTHER OPERATING EXPENSES

 

 

36. FINANCE INCOME

 

 

37. FINANCE EXPENSES

 

 

38. GENERAL AND ADMINISTRATIVE EXPENSES

 

 

39. OTHER INCOME AND EXPENSES

 

 

40. CORPORATE INCOME TAX
 
40.1 Corporate income tax (“CIT”)
 
The tax returns filed by the Company are subject to examination by the tax authorities. As the application of tax laws and regulations is susceptible to varying interpretations, the amounts reported in the financial statements could change later upon final determination by the tax authorities.
 
The current tax payable is based on taxable profit for the year. The taxable profit of the Company differs from the profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other year and it further excludes items that are not taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted by the reporting date. The Company is required to fulfil its corporate income tax obligation with the current tax rate of 20% on the total taxable profit.
 
The estimated current corporate income tax is represented in the table below:
 
 
40.2 Deferred corporate income tax
 
Movement of deferred CIT assets during the year is as follows: 

 

 

The Company recognized the deferred income tax expense in the consolidated income statement for the year ended 31 December 2018 and 31 December 2017 as follows: