(In the Notes all amounts shown in Sri Lanka Rupees
millions unless otherwise stated) |
| 5. Tax |
|
|
| The charge
for taxation is made up as follows: |
|
| |
Group/Company |
| |
2001
|
2000
|
| Current
tax |
- |
- |
| Deferred
tax charge (Note 15) |
1,515 |
693 |
| |
1,515
|
693
|
No income
tax is payable for the year in view of tax losses
available for carry forward.
At 31 December 2001, tax losses available for carry
forward amounted to approximately
Rs. 16,000 million (2000 - Rs. 19,000 million). |
| The tax
on the Company’s profit before tax differs
from the theoretical amount that would arise using
the basic tax rate of the Company, as follows: |
| |
Group/Company |
| |
2001
|
2000
|
| Profit
before tax |
3,620 |
935 |
| Tax calculated
at a tax rate of 35% (2000 - 35%) |
1,267 |
327 |
| Expenses
not deductible |
273 |
506 |
| Income
not subject to tax |
(25) |
(100) |
| Utilisation
of previously unrecognised tax losses |
- |
(40) |
| Tax charge |
1,515
|
693
|
| Notes
|
|
|
