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NOTES TO FINANCIAL STATEMENTS
(cont’d)
31 March 2016
27 TAXATION (cont’d)
The unabsorbed tax losses of the subsidiaries are subject to agreement by the tax authorities and compliance with
the tax regulations in the respective countries in which certain subsidiaries operate. These temporary differences
do not expire under current tax legislation.
Group
2016 2015
Current tax expense $’000 $’000
Current year 80 355
Reconciliation of effective tax (46,237) 237,277
(Deficit)/Surplus before income tax (7,860) 40,337
Income tax using Singapore tax rates of 17% - (39,982)
Income not subject to tax
Expenses not deductible for tax purposes 7,940 -
80 355
28 COMMITMENTS
Operating lease commitments
The future lease payments contracted at the reporting date but not recognised as liabilities are analysed as
follows:
Group
2016 2015
$’000 $’000
Not later than one year 6,986 9,095
Later than one year but not later than five years
3,147 3,608
The Group and the University Company leases office properties, personal computers, printers and servers under
operating leases. The leases typically run for a period of 1 to 5 years.
NANYANG TECHNOLOGICAL UNIVERSITY AND ITS SUBSIDIARIES 79
