NOTES TO FINANCIAL STATEMENTS
December 31, 2015
29
FINANCE COST
GROUP
2015
2014
RMB’000
RMB’000
Interest on bank loans
806,420
825,149
Interest on convertible notes
–
19,089
Interest on senior notes
489,169
641,568
Interest to ultimate holding company (Note 5)
1,883
3,462
Interest to non-controlling shareholders of subsidiaries
141
1,072
Total borrowing costs
1,297,613
1,490,340
Less: Interest capitalised in
– properties for development
(69,558)
(96,950)
– properties under development for sale
(999,235)
(1,116,017)
– properties for development and properties under development for sale
in joint venture
(21,927)
(40,807)
Net
206,893
236,566
30
INCOME TAX
GROUP
2015
2014
RMB’000
RMB’000
(Restated)
Current
993,344
794,928
Deferred income tax (Note 15)
140,321
132,247
Deferred withholding tax (Note 15)
111,158
76,009
Land appreciation tax (“LAT”)
677,154
461,288
Under provision in prior years
24,713
8,796
Total
1,946,690
1,473,268
No provision for Singapore taxation has been made as the majority of the Group’s income neither arises in, nor is
derived from Singapore.
In 2015 and 2014, most of the taxation arising in the PRC is calculated at the prevailing rate of 25%.
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