Vector Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS continued

08. Fair value change on financial instruments://

2018 $M

2017 $M

Fair value movement on hedging instruments Fair value movement on hedged items

32.2

(53.6)

(29.1)

56.3

Reclassification of investment in associate to financial asset

(1.1)

Total gains/(losses)

3.1

1.6

09. Income tax expense/ (benefit)://

2017 $M

2018 $M

Reconciliation of income tax expense/(benefit)

Profit/(loss) before income tax Tax at current rate of 28% Current tax adjustments: Non-deductible expenses

186.6

203.0

52.2

56.8

3.3

2.0

Relating to prior periods – depreciation method Relating to prior periods – tax dispute settlement

– –

17.2

(12.6)

Relating to prior periods – others

1.9

(6.1)

Relating to MEL Network Limited removal

(16.7)

Other

(1.3)

(3.1)

Deferred tax adjustments: Relating to prior periods – depreciation method Relating to prior periods – tax dispute settlement

– –

(17.2)

(2.5) (0.4)

Relating to prior periods – others Income tax expense/(benefit)

(2.6)

36.8

34.1

Comprising: Current tax Deferred tax

28.1

43.2

8.7

(9.1)

79

Vector://AR 18

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