Taxation

As a transparency bank, we are proud to publish our taxation report. The details of income tax expense are as follows:

The reconciliation of income tax expense computed at the statutory tax rate to the income tax expense shown in the income statement is as follows:

	2011		2010
	US$	KHR'000	US$
Profit before income tax	61,826,026	249,715,319	33,413,509
Income tax using the domestic corporation tax rate	12,365,205	49,943,063	6,682,702
Tax effect of:
Tax rate in foreign jurisdiction	-	-	-
Non-deductible expenses	107,465	434,051	285,037
Minimum tax	-	-	-
Tax losses utilised by subsidiary	-	-	-
Unrecognised tax losses of subsidiaries	-	-	-
	12,472,670	50,377,114	6,967,739

The calculation of taxable income is subject to the review and approval of the tax authorities.

Note: For more details, please visit ACLEDA Bank's annual reports.

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