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EC World Real Estate Investment Trust ANNUAL REPORT 2016
NOTES TO THE
Financial Statements
For the Financial Year ended 31 December 2016
6.
Other trust expenses
Group
Year ended
31 December
2016
Period from
5 August 2015
to 31 December
2015
SS$’000
SS$’000
Consultancy and professional fees
590
181
Valuation fees
78
–
Listing expenses
2,188
–
Others trust expenses
147
–
3,003
181
7.
Income tax expenses
Group
Year ended
31 December
2016
Period from
5 August 2015
to 31 December
2015
S$’000
S$’000
Tax expense attributable to profit is made up of:
– Current income tax
11,613
2,168
– Deferred income tax (Note 19)
5,412
270,732
17,025
272,900
The income tax expense on the results for the financial year differs from the amount that would arise using the
Singapore standard rate of income tax due to the following:
Group
Year ended
31 December
2016
Period from
5 August 2015
to 31 December
2015
S$’000
S$’000
Total return for the year/period before income tax
72,845
969,714
Tax calculated using Singapore tax rate of 17% (2015: 17%)
12,384
164,851
Effects of:
– Different tax rates in foreign jurisdiction
5,406
77,339
– Revaluation of investment properties
3,562
32,230
– Non-tax deductible items, net
2,299
24
– Income not subject to tax
(6,626)
(1,544)
17,025
272,900