HUANENG POWER INTERNATIONAL INC | CIK:0000929058 | 3

  • Filed: 4/12/2018
  • Entity registrant name: HUANENG POWER INTERNATIONAL INC (CIK: 0000929058)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/929058/000114420418020280/0001144204-18-020280-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/929058/000114420418020280/hnp-20171231.xml
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    • ifrs-full:DisclosureOfIncomeTaxExplanatory

    33
    Income tax expense
     
       
    For the year ended 31 December
    		  
       
    2017
    		    
    2016
    		    
    2015
    		  
                       
    Current income tax expense
    		    
    1,942,238
    		      
    3,905,968
    		      
    6,386,149
    		  
    Deferred income tax (Note 31)
    		    
    (724,712
    )
    		    
    (440,817
    )
    		    
    (687,206
    )
                             
    Total
    		    
    1,217,526
    		      
    3,465,151
    		      
    5,698,943
    		  
     
    No Hong Kong profits tax has been provided as there were no estimated assessable profits in Hong Kong for the year (2016: nil).

    The reconciliation of the effective income tax rate from the notional income tax rate is as follows:
     
       
    For the year ended 31 December
    		  
       
    2017
    		    
    2016
    		    
    2015
    		  
                       
    Notional tax on profit before income tax expense, calculated at the applicable income tax rates in the countries concerned
    		    
    26.13
    %
    		    
    25.16
    %
    		    
    25.11
    %
    Effect of tax losses not recognized
    		    
    18.45
    %
    		    
    1.58
    %
    		    
    (0.12
    %)
                             
    Effect of deductible temporary differences not recognized
    		    
    6.04
    %
    		    
    (0.20
    %)
    		    
    (0.16
    %)
    Effect of non-taxable income
    		    
    (12.37
    %)
    		    
    (2.89
    %)
    		    
    (1.77
    %)
    Effect of non-deductible expenses
    		    
    7.05
    %
    		    
    1.09
    %
    		    
    1.37
    %
    Others
    		    
    (1.84
    %)
    		    
    0.35
    %
    		    
    0.39
    %
                             
    Effective tax rate
    		    
    43.46
    %
    		    
    25.09
    %
    		    
    24.82
    %
     
    The Company and its PRC branches and subsidiaries are subject to income tax at 25%, except for certain PRC branches and subsidiaries that are tax exempted or taxed at preferential tax rates, as determined in accordance with the relevant PRC income tax rules and regulations for the years ended 31 December 2017 and 2016.

    Pursuant to Guo Shui Han [2009] No. 33, starting from 1 January 2008, the Company and its PRC branches calculate and pay income tax on a consolidated basis according to relevant tax laws and regulations. The original regulation specifying locations for power plants and branches of the Company to make enterprise income tax payments was abolished. The income tax of subsidiaries remains to be calculated individually based on their individual operating results.

    The income tax rate applicable to Singapore subsidiaries is 17% (2016: 17%).