85
TEHO INTERNATIONAL INC LTD.
Annual Report 2016
NOTES
TO THE FINANCIAL STATEMENTS
Year ended 30 June 2016
23 TAX EXPENSE (CONT’D)
Reconciliation of effective tax rate (cont’d)
Group
2016
2015
$
$
Tax using the Singapore tax rate of 17% (2015: 17%)
(4,022,467) (1,258,899)
Effect of tax rates in foreign jurisdictions
25,342
(9,460)
Non-deductible expenses
3,380,258 775,073
Tax effect of losses not allowed to be set off against
future taxable profits
306,855 233,685
(Over)/under provided in prior years
(105,585)
47,147
Tax incentives
(106,280)
(111,396)
Corporate tax rebate
(40,000)
(45,628)
Tax exempt income
(278,543)
(72,311)
Recognition of tax effect of previously unrecognised
tax losses
–
(8,973)
Current year losses for which no deferred tax asset
was recognised
601,351
475,107
Change in unrecognised temporary differences
337,076 228,170
Others
70,078 (20,369)
Total tax expense
168,085
232,146
24 LOSS PER SHARE
Basic earnings per share
The calculation of basic earnings per share at 30 June 2016 was based on the loss
attributable to ordinary shareholders of $23,815,199 (2015: $7,618,050), and aweighted-
average number of ordinary shares outstanding of 233,324,614 (2015: 215,467,471),
calculated as follows:
Weighted-average number of ordinary shares
Group
2016
2015
$
$
Issued ordinary shares at beginning of the year
233,324,614 190,467,471
Effect of shares issued related to a business combination
– 25,000,000
Weighted-average number of ordinary shares
during the year
233,324,614 215,467,471
Diluted earnings per share
There were no dilutive potential ordinary shares in existence for the financial years
ended 30 June 2016 and 2015.
