Tax on income |
Note 10 – Tax on income
Tax balances presented in the statement of financial position:
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Current tax assets
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9,497
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3,117
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2,618
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Deferred tax liabilities
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(4,868
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)
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(4,198
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)
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(1,342
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Deferred taxes arise from the following:
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Financial assets carried at fair value through profit or loss
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(5,135
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)
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(710
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)
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(5,845
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(1,612
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Leases
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-
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19
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19
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5
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Employees benefits
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421
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80
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501
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139
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Allowance of credit loss
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326
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(9
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317
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87
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Carry forward tax losses
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Deferred taxes arise from the following:
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Financial assets carried at fair value through profit or loss
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(6,511
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)
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1,376
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(5,135
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)
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(1,459
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)
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Financial liabilities carried at fair value through profit or loss
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3,210
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(3,210
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)
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-
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-
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Employees benefits
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599
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(178
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)
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421
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120
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Allowance of credit loss
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316
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10
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326
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93
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Carry forward tax losses
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(2,017
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)
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(2,181
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)
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(4,198
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)
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(1,193
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)
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Taxes on income recognized in profit or loss:
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Current taxes:
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Current taxes
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Deferred taxes
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Reconciliation of the statutory tax rate to the effective tax rate:
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Income before Income taxes
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39,192
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53,974
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57,820
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10,806
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Statutory tax rate
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Tax computed by statutory tax rate
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9,014
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12,414
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13,299
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2,485
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Tax increments (savings) due to:
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Non-deductible expenses
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541
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147
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97
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150
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Profit or loss for tax for which deferred taxes were not provided
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-
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(13
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)
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12
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-
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Temporary differences
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(19
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)
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-
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-
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(5
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Taxes for previous years
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(268
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)
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358
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-
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(74
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)
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Tax exempt Income
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(1,224
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)
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(844
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)
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(1,202
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)
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(338
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)
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Other
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The tax rate applicable to the Company for the years 2021 – 2023 is 23%.
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