Generally, PTTGC’s Effective Tax Rate in Thailand is lower than Corporate Tax Rate of 20% due to many BOI certificates granted to our local operations. Our Effective Tax Rate varies year by year because of various utilization period of each BOI privilege which has different beginning activation date and performance from operations. The local operations are mainly tax exempted except for Refinery and Aromatic businesses. As a result, PTTGC’s Effective Tax Rate in 2015 was approximately 9%.