Income tax expense is recognised based on management’s best estimate of the weighted average annual income tax rate expected for the full financial year applied to the pre-tax income of the interim period. The Group’s consolidated effective tax rate in respect of continuing operations for the three-month and nine-month periods ended 30 September 2014 was (32.31) % and (3.73)% for the consolidated financial statements and 0.23% and (2.02)% for the separate financial statements. The effective tax rate of the Group is different from the corporate tax rate principally because:
(a) During 2014, the Group has recognised deferred tax assets from non recognised tax losses of previous year of Baht 409 million and;
(b) The different treatment for accounting and taxation purposes of certain items of income and expense, in particular, dividend income from a subsidiary for the three months period ended 30 September 2014 of Baht 30 million.