Common use of INCOME TAX EXPENSES Clause in Contracts

INCOME TAX EXPENSES. 33.1 Major components of income tax expenses for the years ended December 31, 2022 and 2021 consisted of: Consolidated financial statements Separate financial statements Income tax expenses shown in profit or loss : Current income tax: Income tax for the year 321,338,496 234,490,177 150,445,900 141,332,379 Deferred tax: Changes in temporary differences relating to the original recognition and reversal (19,635,850) (10,557,056) (7,595,734) (2,298,309) Tax expenses from continuing operations 301,702,646 223,933,121 142,850,166 139,034,070 Tax expenses from discontinued operations (Note 34) 229,053 458,107 - - Total 301,931,699 224,391,228 142,850,166 139,034,070 Income tax relating to components of other comprehensive income: Deferred tax relating to gain (loss) from :- Remeasuring available-for-sale investments 505,159,065 771,921,151 255,066,550 570,013,266 Actuarial on defined employee benefit plans 14,372,813 5,950,753 3,773,187 - Total 519,531,878 777,871,904 258,839,737 570,013,266 33.2 A numerical reconciliation between income tax expense and the product of accounting profit multiplied by the applicable tax rate for the years ended December 31, 2022 and 2021which are summarized as follows: Consolidated financial statements Separate financial statements 2022 2021 2022 2021 Accounting profit for the year 1,917,452,850 2,213,870,894 1,306,282,772 1,040,815,240 The applicable tax rate (%) 20 20 20 20 Income tax expense at the applicable tax rate 383,490,570 442,774,179 261,256,554 208,163,048 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit 8,473,654 7,972,305 883,672 26,663,703 Tax effect of income that are increase in determining tax profit Tax effect of income or profit that are not required in determining taxable profit: 18,875,025 - 18,875,025 - - Exemption of non-taxable dividend income (66,942,461) (61,853,299) (135,264,484) (92,378,243) - Share of profit of associates (27,368,510) (144,337,703) - - - Others (10,114,306) (14,020,380) (2,900,601) (3,414,438) Tax loss not recorded in the prior year but is used to reduce income tax expense of the current year (6,308,693) (7,446,636) - - Tax loss that tax assets are not recorded 1,597,367 844,655 - - Total reconciliation items (81,787,924) (218,841,058) (118,406,388) (69,128,978) Total income tax expense 301,702,646 223,933,121 142,850,166 139,034,070 33.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate for the years ended December 31, 2022 and 2021 are summarized as follows: 2022 2021 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,917,452,850 2,213,870,894 Income tax expenses at the applicable tax rate 383,490,570 20.00 442,774,179 20.00 Reconciliation items (81,787,924) (4.27) (218,841,058) (9.88) Income tax expenses at the average effective tax rate 301,702,646 15.73 223,933,121 10.12 2022 2021 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,306,282,772 1,040,815,240 Income tax expenses at the applicable tax rate 261,256,554 20.00 208,163,048 20.00 Reconciliation items (118,406,388) (9.06) (69,128,978) (6.64) Income tax expenses at the average effective tax rate 142,850,166 10.94 139,034,070 13.36

INCOME TAX EXPENSES. 33.1 32.1 Major components of income tax expenses for the years ended December 31, 2022 2018 and 2021 2017 consisted of: Consolidated financial statements Separate financial statements Income tax expenses shown in profit or loss : Current income tax: Income tax for the year 321,338,496 234,490,177 150,445,900 141,332,379 194,471,688 205,635,800 87,873,472 78,346,601 Deferred tax: Changes in temporary differences relating to the original recognition and reversal (19,635,8505,055,867) (10,557,0569,315,097) (7,595,734882,908) (2,298,3091,596,377) Tax expenses from continuing operations 301,702,646 223,933,121 142,850,166 139,034,070 Tax expenses from discontinued operations (Note 34) 229,053 458,107 - - Total 301,931,699 224,391,228 142,850,166 139,034,070 189,415,821 196,320,703 86,990,564 76,750,224 Income tax relating to components of other comprehensive income: Deferred tax relating to gain (loss) from :- Remeasuring available-for-sale investments 505,159,065 771,921,151 255,066,550 570,013,266 (57,370,916) (96,735,358) 8,063,312 (6,922,126) Actuarial on defined define employee benefit plans 14,372,813 5,950,753 3,773,187 plons 65,962 (630,176) - - Total 519,531,878 777,871,904 258,839,737 570,013,266 33.2 (57,304,954) (97,365,534) 8,063,312 (6,922,126) 32.2 A numerical reconciliation between income tax expense and the product of accounting profit multiplied by the applicable tax rate for the years ended December 31, 2022 2018 and 2021which 2017 which are summarized as follows: Consolidated financial statements Separate financial statements 2022 2021 2022 2021 2018 2017 2018 2017 Accounting profit for the year 1,917,452,850 2,213,870,894 1,306,282,772 1,040,815,240 1,065,824,225 1,260,845,936 739,887,602 600,811,805 The applicable tax rate (%) 20 20 20 20 Income tax expense at the applicable tax rate 383,490,570 442,774,179 261,256,554 208,163,048 213,164,845 252,169,187 147,977,520 120,162,361 Consolidated financial statements Separate financial statements 2018 2017 2018 2017 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit 8,473,654 7,972,305 883,672 26,663,703 Tax effect of income that are increase in determining tax profit 5,714,385 3,035,354 950,720 560,010 Tax effect of income or profit that are not required in determining taxable profit: 18,875,025 - 18,875,025 - - Exemption of non-taxable dividend income (66,942,46114,240,848) (61,853,29910,816,873) (135,264,48457,677,325) (92,378,24338,587,708) - Share of profit of associates (27,368,5103,124,717) (144,337,70332,605,166) - - - Others (10,114,30615,719,274) (14,020,38016,851,405) (2,900,6014,260,351) (3,414,4385,384,439) Tax loss not recorded in the prior year but is used to reduce income Unrecognized tax expense of the current year - (6,308,693) (7,446,636530,302) - - Tax loss that Unrecognized tax losses on deferred tax assets are not recorded 1,597,367 844,655 3,621,430 1,919,908 - - Total reconciliation items (81,787,92423,749,024) (218,841,05855,848,484) (118,406,38860,986,956) (69,128,97843,412,137) Total income tax expense 301,702,646 223,933,121 142,850,166 139,034,070 33.3 189,415,821 196,320,703 86,990,564 76,750,224 32.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate for the years ended December 31, 2022 2018 and 2021 2017 are summarized as follows: 2022 2021 2018 2017 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,917,452,850 2,213,870,894 1,065,824,225 1,260,845,936 Income tax expenses at the applicable tax rate 383,490,570 213,164,845 20.00 442,774,179 252,169,187 20.00 Reconciliation items (81,787,92423,749,024) (4.272.23) (218,841,05855,848,484) (9.884.43) Income tax expenses at the average effective tax rate 301,702,646 15.73 223,933,121 10.12 2022 2021 189,415,821 17.77 196,320,703 15.57 2018 2017 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,306,282,772 1,040,815,240 739,887,602 600,811,805 Income tax expenses at the applicable tax rate 261,256,554 147,977,520 20.00 208,163,048 120,162,361 20.00 Reconciliation items (118,406,38860,986,956) (9.068.24) (69,128,97843,412,137) (6.647.23) Income tax expenses at the average effective tax rate 142,850,166 10.94 139,034,070 13.3686,990,564 11.76 76,750,224 12.77

INCOME TAX EXPENSES. 33.1 Major components of income tax expenses for the years ended December 31, 2022 2020 and 2021 2019 consisted of: Consolidated financial statements Separate financial statements Income tax expenses shown in profit or loss : Current income tax: Income tax for the year 321,338,496 234,490,177 150,445,900 141,332,379 132,042,530 215,886,634 52,044,812 84,754,151 Deferred tax: Changes in temporary differences relating to the original recognition and reversal (19,635,8508,303,548) (10,557,0569,441,335) (7,595,7341,915,630) (2,298,3092,367,110) Tax expenses from continuing operations 301,702,646 223,933,121 142,850,166 139,034,070 Tax expenses from discontinued operations (Note 34) 229,053 458,107 - - Total 301,931,699 224,391,228 142,850,166 139,034,070 123,738,982 206,445,299 50,129,182 82,387,041 Income tax relating to components of other comprehensive income: Deferred tax relating to gain (loss) from :- Remeasuring available-for-sale investments 505,159,065 771,921,151 255,066,550 570,013,266 9,920,701 147,439,051 62,008,280 76,459,523 Actuarial on defined define employee benefit plans 14,372,813 5,950,753 3,773,187 - (6,603,425) - (1,042,793) Total 519,531,878 777,871,904 258,839,737 570,013,266 9,920,701 140,835,626 62,008,280 75,416,730 33.2 A numerical reconciliation between income tax expense and the product of accounting profit multiplied by the applicable tax rate for the years ended December 31, 2022 2020 and 2021which 2019 which are summarized as follows: Consolidated financial statements Separate financial statements 2022 2021 2022 2021 2020 2019 2020 2019 Accounting profit for the year 1,917,452,850 2,213,870,894 1,306,282,772 1,040,815,240 662,257,768 1,199,244,862 604,631,358 796,043,542 The applicable tax rate (%) 20 20 20 20 Income tax expense at the applicable tax rate 383,490,570 442,774,179 261,256,554 208,163,048 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit 8,473,654 7,972,305 883,672 26,663,703 Tax effect of income that are increase in determining tax profit 132,451,554 20,923,288 239,848,972 62,538,362 120,926,272 27,809,044 159,208,708 1,245,254 Tax effect of income or profit that are not required in determining taxable profit: 18,875,025 - 18,875,025 - - Exemption of non-taxable dividend income (66,942,46131,919,583) (61,853,29933,218,462) (135,264,48492,751,582) (92,378,24373,866,685) - Share of profit of associates 12,470,938 (27,368,510) (144,337,70351,946,788) - - - Others (10,114,30611,604,974) (14,020,38015,214,243) (2,900,6015,854,552) (3,414,4384,200,236) Tax loss not recorded in the prior year but is used to reduce income Unrecognized tax expense of the current year (6,308,693) (7,446,636) - - Tax loss that losses on deferred tax assets are not recorded 1,597,367 844,655 1,417,759 4,437,458 - - Total reconciliation items (81,787,9248,712,572) (218,841,05833,403,673) (118,406,38870,797,090) (69,128,97876,821,667) Total income tax expense 301,702,646 223,933,121 142,850,166 139,034,070 123,738,982 206,445,299 50,129,182 82,387,041 33.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate for the years ended December 31, 2022 2020 and 2021 2019 are summarized as follows: 2022 2021 2020 2019 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,917,452,850 2,213,870,894 662,257,768 1,199,244,862 Income tax expenses at the applicable tax rate 383,490,570 132,451,554 20.00 442,774,179 239,848,972 20.00 Reconciliation items (81,787,9248,712,572) (4.271.32) (218,841,05833,403,673) (9.882.79) Income tax expenses at the average effective tax rate 301,702,646 15.73 223,933,121 10.12 2022 2021 123,738,982 18.68 206,445,299 17.21 2020 2019 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,306,282,772 1,040,815,240 604,631,358 796,043,542 Income tax expenses at the applicable tax rate 261,256,554 120,926,272 20.00 208,163,048 159,208,708 20.00 Reconciliation items (118,406,38870,797,090) (9.0611.71) (69,128,97876,821,667) (6.649.65) Income tax expenses at the average effective tax rate 142,850,166 10.94 139,034,070 13.3650,129,182 8.29 82,387,041 10.35

INCOME TAX EXPENSES. 33.1 31.1 Major components of income tax expenses for the years ended December 31, 2022 2019 and 2021 2018 consisted of: Consolidated financial statements Separate financial statements Income tax expenses shown in profit or loss : Current income tax: Income tax for the year 321,338,496 234,490,177 150,445,900 141,332,379 215,886,634 194,471,688 84,754,151 87,873,472 Deferred tax: Changes in temporary differences relating to the original recognition and reversal (19,635,8509,441,335) (10,557,0565,055,867) (7,595,7342,367,110) (2,298,309882,908) Tax expenses from continuing operations 301,702,646 223,933,121 142,850,166 139,034,070 Tax expenses from discontinued operations (Note 34) 229,053 458,107 - - Total 301,931,699 224,391,228 142,850,166 139,034,070 206,445,299 189,415,821 82,387,041 86,990,564 Income tax relating to components of other comprehensive income: Deferred tax relating to gain (loss) from :- Remeasuring available-for-sale investments 505,159,065 771,921,151 255,066,550 570,013,266 147,439,051 (57,370,916) 76,459,523 8,063,312 Actuarial on defined define employee benefit plans 14,372,813 5,950,753 3,773,187 plons (6,603,425) 65,962 (1,042,793) - Total 519,531,878 777,871,904 258,839,737 570,013,266 33.2 140,835,626 (57,304,954) 75,416,730 8,063,312 31.2 A numerical reconciliation between income tax expense and the product of accounting profit multiplied by the applicable tax rate for the years ended December 31, 2022 2019 and 2021which 2018 which are summarized as follows: Consolidated financial statements Separate financial statements 2022 2021 2022 2021 2019 2018 2019 2018 Accounting profit for the year 1,917,452,850 2,213,870,894 1,306,282,772 1,040,815,240 1,199,244,862 1,065,824,225 796,043,542 739,887,602 The applicable tax rate (%) 20 20 20 20 Income tax expense at the applicable tax rate 383,490,570 442,774,179 261,256,554 208,163,048 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit 8,473,654 7,972,305 883,672 26,663,703 Tax effect of income that are increase in determining tax profit 239,848,972 62,538,362 213,164,845 5,714,385 159,208,708 1,245,254 147,977,520 950,720 Tax effect of income or profit that are not required in determining taxable profit: 18,875,025 - 18,875,025 - - Exemption of non-taxable dividend income (66,942,46133,218,462) (61,853,29914,240,848) (135,264,48473,866,685) (92,378,24357,677,325) - Share of profit of associates (27,368,51051,946,788) (144,337,7033,124,717) - - - Others (10,114,30615,214,243) (14,020,38015,719,274) (2,900,6014,200,236) (3,414,4384,260,351) Tax loss not recorded in the prior year but is used to reduce income Unrecognized tax expense of the current year (6,308,693) (7,446,636) - - Tax loss that losses on deferred tax assets are not recorded 1,597,367 844,655 4,437,458 3,621,430 - - Total reconciliation items (81,787,92433,403,673) (218,841,05823,749,024) (118,406,38876,821,667) (69,128,97860,986,956) Total income tax expense 301,702,646 223,933,121 142,850,166 139,034,070 33.3 206,445,299 189,415,821 82,387,041 86,990,564 31.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate for the years ended December 31, 2022 2019 and 2021 2018 are summarized as follows: 2022 2021 2019 2018 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,917,452,850 2,213,870,894 1,199,244,862 1,065,824,225 Income tax expenses at the applicable tax rate 383,490,570 239,848,972 20.00 442,774,179 213,164,845 20.00 Reconciliation items (81,787,92433,403,673) (4.272.79) (218,841,05823,749,024) (9.882.23) Income tax expenses at the average effective tax rate 301,702,646 15.73 223,933,121 10.12 2022 2021 206,445,299 17.21 189,415,821 17.77 2019 2018 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before income tax expenses for the year 1,306,282,772 1,040,815,240 796,043,542 739,887,602 Income tax expenses at the applicable tax rate 261,256,554 159,208,708 20.00 208,163,048 147,977,520 20.00 Reconciliation items (118,406,38876,821,667) (9.069.65) (69,128,97860,986,956) (6.648.24) Income tax expenses at the average effective tax rate 142,850,166 10.94 139,034,070 13.3682,387,041 10.35 86,990,564 11.76