Share of profit of associates and joint ventures

[weijian]

I thought this might be the case. Another question: Since share profit from assoc/JV are accounting profit, are they taxable? Another question. Does anyone knows if these share profit are before or after tax?

Please refer to the accounting treatment of Assoc/JV on page 53 to 55 of the following document from EY.

http://www.ey.com/Publication/vwLUAssets...ited_2012/$FILE/XYZ%20Holdings%20Singapore%20Limited%20-%202012.pdf

Assoc/JV's reported share of profits on the parent's P/L are already after tax. Hence the profit should not be taxed on parent's side again.

Here is a nice working example:
http://www.cimaglobal.com/Documents/Stud...epart2.pdf