Notes to the Financial Statements For the financial year ended 31 December 2024 12 PROFIT FROM OPERATIONS The following items have been included in arriving at profit from operations: 2024 2023 $ $ Audit fees paid to auditor of the Company (4,230) (4,400) Other income – Distribution income from equity investments 529,778 372,975 13 FINANCE COST 2024 2023 $ $ Interest paid/payable to related corporation 284,118 86,508 14 INCOME TAX EXPENSE 2024 2023 $ $ Current income tax expense Current year 310,013 278,711 Overprovision in respect of prior years (49,287) – 260,726 278,711 Reconciliation of effective tax rate Profit before income tax 1,926,105 2,077,256 Tax calculated using Singapore tax rate of 17% (2023: 17%) 327,438 353,134 Tax exempt income (17,425) (74,423) Overprovision in respect of prior years (49,287) – 260,726 278,711 300 CapitaLand Ascott Trust
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