IREIT Global.
annual report 2014
For the reporting period from 1 November 2013 (date of constitution) to 31 December 2014
Notes to the
Financial Statements
18.
INCOME TAX BENEFIT
Group
Period from
1 November
2013 (date of
constitution) to
31 December
2014
EUR’000
Current tax
–
Deferred taxation
– Current year
1,155
Total
1,155
IREIT is subjected to Singapore income tax at 17% and the subsidiaries at approximately 15.85%
which is the tax rate prevailing in Germany where all the properties are located.
The income tax benefit for the period can be reconciled to the accounting loss as follows:
Group
Period from
1 November
2013 (date of
constitution) to
31 December
2014
EUR’000
Loss before taxation and transactions with unitholders
(7,335)
Tax at 17%
1,247
Tax effect of expenses not deductible for tax purposes
(257)
Tax effect of income not taxable for tax purposes
867
Effect of different tax rate of overseas operations
(702)
Tax benefit for the period
1,155
