- 56 - 18. INCOME TAX EXPENSE AND DEFERRED TAX Income tax (benefit) expense Income tax (benefit) expense for the years ended December 31, 2021 and 2020 consisted of: Unit : Million Baht Consolidated financial statements Separate financial statements 2021 2020 2021 2020 Current tax (benefit) expense Current year 4,079 750 2,263 - Over provided in prior years (41) (49) - (51) 4,038 701 2,263 (51) Deferred tax (benefit) expense Movements in temporary differences 3,190 (810) 3,149 (608) Total 7,228 (109) 5,412 (659) Reconciliation of effective tax rate Unit : Million Baht Consolidated financial statements 2021 2020 Rate Rate (%) (%) Profit before income tax 52,778 543 Income tax using the Thai corporation tax rate 20.0 10,556 20.0 109 Effect of different tax rates in foreign jurisdictions 1,823 (42) Income not subject to tax (1,873) (154) Non-deductible tax expenses 1,315 538 Expenses deductible at a greater amount (3,471) (933) Tax loss carryforward (2,112) (574) Over provided in prior years (41) (49) Share of profit of investments in joint ventures and associate (1,368) (665) Temporary differences 3,190 (810) Others (791) 2,471 Income tax (benefit) expense 13.7 7,228 - (109) Unit : Million Baht Separate financial statements 2021 2020 Rate Rate (%) (%) Profit (loss) before income tax 42,540 (4,039) Income tax using the Thai corporation tax rate 20.0 8,508 20.0 (808) Income not subject to tax (3,018) (640) Non-deductible tax expenses 1,379 26 Expenses deductible at a greater amount (2,741) (435) Over provided in prior years - (51) Temporary differences 3,149 (608) Others (1,865) 1,857 Income tax (benefit) expense 12.7 5,412 - (659) 288 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2021
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