15. Income tax expense
08
The Parent company’s applicable corporate income tax rate is 20%.
| RUB million | 2011 | 2010 |
|---|---|---|
| Current tax expense | (5,670) | (3,506) |
| Origination and reversal of temporary differences, including change in unrecognised assets |
(150) | (143) |
| (5,820) | (3,649) |
Reconciliation of effective tax rate:
| 2011 | 2010 | |||
|---|---|---|---|---|
| RUB million | % | RUB million | % | |
| Profit before taxation | 28,296 | 15,630 | ||
| Income tax at applicable tax rate | (5,659) | (20) | (3,126) | (20) |
| Underprovided in respect of prior years | 35 | — | 7 | — |
| Unrecognized tax liability on income from associates | 464 | 2 | — | — |
| Unrecognized foreign exchange difference relating to intra-group transfer of investments | 118 | — | — | — |
| Increase of tax loss carry-forward due to intra-group transfer of investments | 329 | 1 | — | — |
| Realisation of the deferred tax liability relating to investment in subsidiary due to intra-group transfer of investments | — | — | (329) | (2) |
| Non-deductible items | (823) | (3) | (574) | (3) |
| Change in unrecognised deferred tax assets | (284) | (1) | 373 | 2 |
| (5,820) | (21) | (3,649) | (23) | |
Notes to the Consolidated Financial Statements
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