Page 150 - Neal and Massy Holdings Annual Report 2012

148 2012
31 Income Tax Expense (continued)
The Group’s effective tax rate of 32% (2011: 31%) differs from the statutory Trinidad and Tobago tax rate of 25% as follows:
2012 2011
$ $
Profit before taxation 801,849 639,650
Tax calculated at a tax rate of 25% 200,462 159,913
Effect of different tax rates in other countries 12,881 11,596
Expenses not deductible for tax purposes 5,975 12,331
Business levy/green fund levy/withholding taxes 8,750 7,550
Adjustment arising from accounting for deferred tax on lease
arrangement of an associate 28,068 -
Other adjustments 1,726 3,904
Tax charge 257,862 195,294
32 Earnings Per Share
Basic
Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average
number of ordinary shares in issue during the year.
2012 2011
$ $
Profit attributable to shareholders – continuing operations 495,990 402,970
Loss attributable to shareholders – discontinued operations (25,181) (304,849)
470,809 98,121
Weighted average number of ordinary shares in issue (thousands) 96,689 96,645
NOTES TO THE Consolidated FINANCIAL STATEMENTS
September 30, 2012
Expressed in Thousands of Trinidad and Tobago dollars