TAX EXPENSE. Tenant shall pay directly to the relevant taxing authority (or to Landlord if required by Landlord's mortgagee), real estate taxes assessed with respect to any period included in the Term hereof (on a pro rata basis at the beginning or end of the Term) attributable to the Lot and the Building and improvements and any assessment, levy, penalty (arising directly from Tenant's acts), imposition or tax (including any tax which may replace or be assessed in lieu of any of the foregoing), and any interest due thereon, assessed with respect to any period included in the Term by any authority and agency having the direct power to tax against the Lot and the Building (the "Tax Expense"); provided, however, (i) if the amount of any real estate taxes or any such assessment, levy, penalty (arising directly from Tenant's acts), imposition or tax may lawfully be paid in installments, Tenant may pay such amount over the maximum period permitted by law, and only the portion of such amount required to be paid with respect to any period in the Term shall be included in the Tax Expense for such period, (ii) if the Term includes a partial fiscal tax year at its beginning or end, the real estate taxes or any such assessment, levy, penalty (arising directly from Tenant's acts), imposition or tax for such tax years shall be prorated according to the fraction of the total number of days in such tax year that are within the Term, and only such prorated portion shall be included in the Tax Expense, and (iii) Tenant shall have no obligation to pay any assessment, levy, penalty, imposition or tax arising out of a breach or violation by Landlord or any previous owner or occupancy of the Lot or the Building of any law or obligation. The term "real estate taxes" means the real estate taxes, betterment assessments, water and sewer use rents, rates or charges, and such other governmental charges and impositions which are or may be charged, levied, assessed, imposed or become due and payable with respect to the Lot, Building, and other improvements comprising the Premises. All such payments shall be made no later than ten (10) days prior to the date when interest or penalty would accrue for non-payment or ten (10) days after Landlord provides Tenant with the real estate tax xxxx, whichever is later. Tenant shall furnish to Landlord copies of such bills and receipts evidencing payment for Landlord's records. Real estate taxes are currently estimated at $166,250.00 for fiscal year 2000 ($.95...
TAX EXPENSE. Major components of income tax expense consisted of: Baht Income tax expense shown in profit or loss : Current tax expense: Income tax expense for the period 10,843,113 9,929,465 10,479,137 8,348,330 Deferred tax expense : Changes in temporary differences relating to th original recognition and reversal (2,574,030) (381,650) (1,255,765) (262,645) Total 8,269,083 9,547,815 9,223,372 8,085,685 Baht Income tax expense shown in profit or loss : Current tax expense: Income tax expense for the period 29,034,746 21,164,724 26,030,189 18,171,076 Deferred tax expense : Changes in temporary differences relating to th original recognition and reversal (3,398,741) (723,080) (1,976,424) (552,792) Total 25,636,005 20,441,644 24,053,765 17,618,284 For the three-month period ended June 30, 2019 and 2018, the Company and its subsidiaries have transferred the deferred tax at the amount of Baht 0.33 million and Baht 0.33 million respectively, and for the six-month period then ended at the amount of Baht 0.66 million and Baht 0.66 million respectively, from retained earnings to revaluation reserve. This amount relates to the difference between the actual depreciation based on the fixed assets and equivalent depreciation based on the cost of the fixed assets.
TAX EXPENSE. Effective Tax Ratio = -------------------------
TAX EXPENSE. 29.1 Major components of income tax expense for the year ended December 31, 2014 and 2013 consisted of: Baht Consolidated financial statements Separate financial statements 2014 2013 2014 2013 Income tax expense shown in profit or loss : Current tax expense: Income tax expense for the year 29,889,935 37,094,260 29,889,935 37,094,260 Deferred tax expense : Changes in temporary differences relating to the original recognition and reversal 4,977,908 590,491 4,987,352 590,491 Total 34,867,843 37,684,751 34,877,287 37,684,751 In addition, for the year ended December 31, 2014 and 2013, the Company has transferred the deferred tax at the amount of Baht 2.10 million and Baht 1.69 million respectively, from retained earnings to revaluation reserve. This amount relates to the difference between the actual depreciation based on the fixed assets and equivalent depreciation based on the cost of the fixed assets.
29.2 A numerical reconciliation between tax expense and the product of accounting profit multiplied by the applicable tax rate for the year ended December 31, 2014 and 2013 which are summarized as follows: Baht Consolidated financial statements Separate financial statements 2014 2013 2014 2013 Accounting profit for the year 192,937,006 186,363,807 192,393,815 186,363,807 The applicable tax rate (%) 20 20 20 20 Tax expense at the applicable tax rate 38,587,401 37,272,761 38,478,763 37,272,761 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determinin taxable profit 622,982 771,212 605,518 771,212 Tax effect of income or profit that are not required in determining taxable profit: - Deductible expenses (4,342,540) (359,222) (4,206,994) (359,222) Total reconciliation items (3,719,558) 411,990 (3,601,476) 411,990 Total tax expense 34,867,843 37,684,751 34,877,287 37,684,751
29.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate for the year ended December 31, 2014 and 2013 are summarized as follows: Consolidated financial statements 2014 2013 Tax amount (Baht) Tax rate (%) Tax amount (Baht) Tax rate (%) Accounting profit before tax expense for the year 192,937,006 186,363,807 Tax expense at the applicable tax rate 38,587,401 20 37,272,761 20 Reconciliation items (3,719,558) (2) 411,990 - Tax expense at the average effective tax rate 34,867,843 18 37,684,751 20 Separate financial statements 2014 2013 Tax amount (Baht) Tax rate (%) Tax amou...
TAX EXPENSE. Major components of income tax expense consisted of: Baht For the three-month period ended June 30, Consolidated financial statements Separate financial statements 0000 0000 0000 2020 Current tax expense: Income tax expense for the period 39,485,151 (15,011,796) 35,966,065 (15,365,442) Deferred tax expense : Total 36,590,713 (16,317,962) 34,045,424 (16,671,549) Baht For the six-month period ended June 30, Consolidated financial statements Separate financial statements 0000 0000 0000 2020 Current tax expense: Income tax expense for the period 64,849,469 3,533,887 58,207,662 1,666,743 Deferred tax expense : Total 59,820,250 1,633,532 54,607,283 (266,808) For the three-month period ended June 30, 2021 and 2020, the Company has transferred the deferred tax at the amount of Baht 0.26 million and Baht 0.33 million respectively, and for the six-month period then ended at the amount pf Baht 0.52 million and Baht 0.66 million respectively, from retained earnings to revaluation reserve. This amount relates to the difference between the actual depreciation based on the fixed assets and equivalent depreciation based on the cost of the fixed assets.
TAX EXPENSE. The following table sets forth, for the periods indicated, details of tax expense computation. Tax at marginal rate on income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rs. 6,815.6 Rs. 9,326.7 Adjustments Difference in book and tax depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 495.8 1,800.0 Bad debts written off . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,241.9 (13,839.5) Surplus on sale of property/assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.5 20.8 Dividend, exempt interest and other income . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,876.6) (3,240.0) Capital gains on sale of shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,013.4) (3,940.0) Fair value utilization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,663.8) (2,510.0) Other adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,152.2 1,728.0 Net adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12,645.4) (19,980.8) Tax (savings)/outgo thereon—other than capital gains . . . . . . . . . . . . . . . . . . . . . . . (4,536.5) (7,311.5) Capital gains on sale of shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211.4 204.9 Tax (savings)/outgo thereon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,325.1) (7,106.6) Add/(less): Deferred taxes and other tax provisions . . . . . . . . . . . . . . . . . . . . . . . . . 136.7 3,059.9 Wealth tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.0 30.0 Notes: Adjusted profit before taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rs. 18,998.2 Rs. 25,242.0 Income tax expense (including wealth tax) amounted to Rs. 5.22 billion in fiscal 2005 from Rs. 2.65 billion in fiscal 2004 as the effective tax expense rate increased to 20.7% in fiscal 2005 from 13.9% in fiscal 2004. The effective tax expense rate has increased primarily due to higher utilization of fair value provisions against ICICI’s portfolio in fiscal 2004 compared to fiscal 2005.
TAX EXPENSE. (a) For purposes of Paragraph 13 the following Definitions shall apply.
TAX EXPENSE. 19.1 Major components of income tax expense for the three-months period ended March 31, 2021 and 2020 consisted of: Thousand Baht Consolidated financial statements Separated financial statements 0000 0000 0000 2020 Income tax expense shown in profit or loss : Income tax expense for the period - - - - Changes in temporary differences relating to the original recognition and reversal 4,430 - 4,492 - Total 4,430 - 4,492 -
19.2 A numerical reconciliation between tax expense (income) and the product of accounting profit multiplied by the applicable tax rate for the three-months period ended March 31, 2021 and 2020 which were summarized as follows: Accounting profit (loss) for the period 41,897 3,920 30,571 (983) The applicable tax rate (%) 20% 20% 20% 20% Tax expense (income) at the applicable tax rate 8,379 784 6,114 (197) Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit 149 15 1,083 227 Tax effect of income that are not required in determining taxable profit and expenses allowed as additional in determining tax profit (1,720) (1,247) (273) (307) Tax loss that tax assets are not recorded 70 448 - 277 Tax loss not recorded in the prior year but is used to reduce income tax expense of the current year (2,448) - (2,432) - Total reconciliation items (3,949) (784) (1,622) 197 Total tax expense (income) 4,430 - 4,492 -
19.3 A numerical reconciliation between tax average effective tax rate and the application tax rate for the three-months period ended March 31, 2021 and 2020 were summarized as follows: Consolidated financial statements 2021 2020 Tax amount (Thousand Baht) Tax rate (%) Tax amount (Thousand Baht) Tax rate (%) Accounting profit (loss) before tax expense for the period 41,897 3,920 Tax expense (income) at the applicable tax rate 8,379 20.00 784 20.00 Reconciliation items (3,949) (9.43) (784) (20.00) Tax expense (income) at the average effective tax rate 4,430 10.57 - 0.00 Separated financial statements 2021 2020 Tax amount (Thousand Baht) Tax rate (%) Tax amount (Thousand Baht) Tax rate (%) Accounting profit (loss) before tax expense for the period 30,571 (983) Tax expense (income) at the applicable tax rate 6,114 20.00 (197) 20.00 Reconciliation items (1,622) (5.31) 197 (20.00) Tax expense (income) at the average effective tax rate 4,492 14.69 - 0.00 As at March 31, 2021 and December 31, 2020, the Group had tax amount of the temporary differences in tax that did no...
TAX EXPENSE. In addition to the Rent set forth in Xxxxxxxxx 0, Xxxxxx shall pay its share, which is defined on Page 1, of all real property taxes applicable to the land and improvements included within and upon the Lot (“Tax Expense”). The term “Tax Expense” includes any form of tax and assessment (general, special, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license, rental tax, transaction tax, levy, or penalty imposed by authority having the direct or indirect power of tax (including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement district thereof) as against any legal or equitable interest of Lessor in the Premises, Lot or Park, as against Lessor’s right to rent or other income therefrom, or as against Lessor’s business of leasing the Premises or the occupancy of Lessee or any other tax, fee, or excise, however described, other than inheritance or estate taxes, including any value added tax, or any tax imposed in substitution, partially or totally, of any tax previously included within the definition of real property taxes, or any additional txt the nature of which was previously included within the definition of real property tax. C.
TAX EXPENSE. This Lease is expressly contingent upon Tenant obtaining a tax increment financing agreement in the form attached hereto as Schedule 4.3 (the “TIF Agreement”) from the Commonwealth of Massachusetts on or before June 28, 2012 providing for annual real estate taxes not to exceed the respective amounts set forth on Schedule 4.3 attached hereto for a minimum period of fifteen (15) years. If Tenant does not obtain the TIF Agreement satisfying the foregoing criteria by such date, Tenant shall have the right to terminate this Lease by delivery of written notice thereof to Landlord, in which event, this Lease shall terminate and be of no further force and effect, except for those provisions which expressly survive a termination and Tenant shall reimburse Landlord for its actual and reasonable out-of-pocket third party costs for architectural, engineering and labor and materials costs incurred to the date of termination. Tenant shall pay directly to the relevant taxing authority real estate taxes assessed during the Term hereof (on a pro rata basis at the beginning or end of the Term), including without limitation any taxes associated with the TIF Agreement, as applicable, attributable to the Lot and the Building and any assessment, levy, penalty, imposition or tax (including any tax which may replace or be assessed in lieu of any of the foregoing), and any interest due thereon, imposed by any authority and agency having the direct power to tax against the Tenant’s Lot and the Building (the “Tax Expense”). For purposes of calculating the Tax Expense due from Tenant hereunder, the term “Lot” shall after Substantial Completion of Phase II also include the Phase III Lot until the sale of Phase I and Phase II per Exhibit M or the permanent financing of Phase I and Phase II, whichever shall first occur, and thereafter (i) Tenant shall only be responsible for its pro rata share of Tax Expense allocable to Tenant’s share of the Phase II parking (i.e. the Phase II Building Parking Area) located on Phase III Lot and the Common Areas of the Park, all as more particularly provided in Exhibit “U”, which Tenant shall pay to Landlord prior to the date when interest or penalty would accrue for nonpayment, and (ii) Landlord shall pay to any such authority the full Tax Expense of the Phase III Lot and Phase III Building. The term “real estate taxes” means the real estate taxes, betterment assessments, water and sewer use rents, rates or charges, and such other governmental charges ...
