HUTCHISON PORT HOLDINGS TRUST 158 NOTES TO THE FINANCIAL STATEMENTS 6 Interest and other fi nance costs 2025 2024 HK$’000 HK$’000 Bank loans and overdrafts 465,408 565,493 Guaranteed notes 278,971 231,183 Loans from related companies (Note 22) 19,964 19,226 Loans from non-controlling interests 1,524 1,514 Lease liabilities 562 723 Other fi nance costs 36,914 36,786 803,343 854,925 7 Tax 2025 2024 HK$’000 HK$’000 Current tax 1,720,425 1,568,841 Deferred tax (Note 18) (367,295) (349,606) 1,353,130 1,219,235 The tax charge on the Group’s profi t before tax diff ers from the theoretical amount that would arise using the weighted average tax rate of the Group as follows: 2025 2024 HK$’000 HK$’000 Profi t before tax excluding share of net losses after tax of joint ventures and associated companies 3,930,008 3,523,185 Tax calculated at weighted average tax rate of 27.7% (2024: 27.9%) 1,088,972 982,872 Income not subject to tax (12,458) (21,846) Expenses not deductible for tax purposes 134,432 89,847 Withholding tax on unremitted earnings 150,511 141,167 Utilisation of previously unrecognised tax losses (271) (133) Overprovision in prior year (10,662) (6,279) Tax losses not recognised 2,365 33,732 Others 241 (125) Total tax 1,353,130 1,219,235 The Group is within the scope of the Organisation for Economic Co-operation and Developmentb (“OECD”)b Pillar Two model rules. b The Group applies the HKAS 12 exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. In December 2024, Singapore enacted the Pillar Two legislation and implemented the Income Inclusion Rule and a Domestic Minimum Top-up Tax, eff ective from 1 January 2025. Under the legislation, the Group is liable to pay a top-up tax for the diff erence between its Global Anti-Base Erosion eff ective tax rate in each jurisdiction and the 15% minimum rate. For the year ended 31 December 2025, the Group has estimated that it qualifi es for the Transitional Country-byCountry Safe Harbour relief in all jurisdictions in which it operates. Based on the assessment, the application of Pillar Two legislation is not expected to have material impact to the Group.
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