Consolidated Profit And Loss Account Page 25
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48NOTES TO THE ACCOUNTS
b)
Reconciliation between the actual total tax charge and accounting profit at applicable tax
rates
2005
2004
HK$ Million
HK$ Million
Profit before taxation
5,699.6
3,373.7
Notional tax on accounting profit calculated
at applicable tax rates
1,012.7
591.5
Tax effect of non-deductible expenses
73.1
91.0
Tax effect of non-taxable revenue
(306.0)
(105.4)
Tax effect of unused tax losses not recognised
25.7
71.6
Tax effect of prior year’s tax losses utilised this year
(366.5)
(179.4)
Tax effect of timing differences not recognised
–
5.8
Underprovision in prior years
67.0
24.3
Effect of change in tax rates
–
37.4
Actual total tax charge
506.0
536.8
8.
GROUP PROFIT ATTRIBUTABLE TO SHAREHOLDERS
The Group profit attributable to shareholders is dealt with in the accounts of the Company to the extent of
HK$187.8 million (2004: HK$145.8 million).
57
Wheelock and Company Limited Annual Report 2004/05
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