Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
12 Income tax (expense)/credit (Continued)
The tax of the Group’s profit/(loss) before income tax differs from the
theoretical amount that would arise using the weighted average tax rate
applicable to profits/(losses) of the consolidated entities as follows:
12
2011 2010
HK$ Million HK$ Million
Profit/(loss) before income tax and share of
results of associated companies and jointly
controlled entities
216.6 (489.0)
Tax calculated at the domestic rates applicable
to (profits)/losses in the respective countries
(50.7) 117.5
Expenses not deductible for taxation purposes (48.9) (56.2)
Income not subject to tax 85.6 20.4
Tax losses not recognised (72.5) (49.5)
Mainland China land appreciation tax (33.9) (14.4)
Tax (expense)/credit (120.4) 17.8
The weighted average applicable tax rate was 23.4% (2010: 24.0%).
13 Loss attributable to equity holders of the Company
The loss attributable to equity holders of the Company is dealt with in
the financial statements of the Company to the extent of HK$551.6
million (2010: HK$410.1 million), including provision for impairment
losses on investment in subsidiaries and amounts due from subsidiaries
amounting to HK$314.1 million (2010: HK$64.0 million).
23.4%
24.0%
13
551,600,000
410,100,000
314,100,000
64,000,000
134 HKC (Holdings) Limited • Annual Report 2011