CITIC Limited Half-Year Report 2020

55 CITIC Limited Half-Year Report 2020 For the six months ended 30 June 2020 Notes to the Consolidated Financial Statements 9 Profit before taxation (continued) (b) Other items Six months ended 30 June 2020 2019 HK$ million HK$ million Amortisation 1,050 1,168 Depreciation (note) 9,052 9,220 Lease charges (note) 344 875 Tax and surcharges 1,333 1,296 Property management fees 522 601 Non-operating expenses 284 275 Professional fees 373 546 12,958 13,981 Note: Since 1 January 2019, according to HKFRS 16, ROU assets are depreciated on a straight-line basis, while short-term and low-value leases are recorded at lease charges. 10 Income tax expense Six months ended 30 June 2020 2019 HK$ million HK$ million Current tax – Mainland China Provision for enterprise income tax 18,930 12,785 Land appreciation tax (5) 9 18,925 12,794 Current tax – Hong Kong Provision for Hong Kong profits tax 298 615 Current tax – Overseas Provision for the period 105 136 19,328 13,545 Deferred tax Origination and reversal of temporary differences (10,693) (3,521) 8,635 10,024 The particulars of the applicable income tax rates are disclosed in Note 4.