Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Income Tax expense

v3.22.2
Income Tax expense
12 Months Ended
Feb. 28, 2022
Major Components Of Tax Expense Income [Abstract]  
Income Tax expense

 

 

25    Income Tax expense

 

 

Year ended

February 28,

2022

 

 

Year ended

February 28,

2021

 

 

Year ended

February 29,

2020

 

 

 

US$

 

 

US$

 

 

US$

 

Tax recognised in profit or loss

 

 

 

 

 

 

 

 

 

 

 

 

Current tax expense

 

 

 

 

 

 

 

 

 

 

 

 

Current year

 

 

 

 

 

4,090,059

 

 

 

1,592,549

 

Under provision in prior year

 

 

88,588

 

 

 

543,457

 

 

 

 

 

 

 

88,588

 

 

 

4,633,516

 

 

 

1,592,549

 

Deferred tax expense

 

 

 

 

 

 

 

 

 

 

 

 

Origination of temporary differences

 

 

1,049,973

 

 

 

1,714,928

 

 

 

 

 

 

 

1,049,973

 

 

 

1,714,928

 

 

 

 

Income tax expense

 

 

1,138,561

 

 

 

6,348,444

 

 

 

1,592,549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of effective tax rate

 

 

 

 

 

 

 

 

 

 

 

 

Profit before income tax

 

 

34,562,090

 

 

 

51,601,156

 

 

 

15,173,340

 

Income tax using Singapore rate of 17% (2020: 17%)

 

 

5,875,555

 

 

 

8,772,196

 

 

 

2,579,468

 

Effect of tax rates in foreign jurisdiction

 

 

(20,802

)

 

 

918,306

 

 

 

 

Non-deductible expenses

 

 

2,232,578

 

 

 

579,122

 

 

 

31,066

 

Tax exempt income

 

 

(6,978,875

)

 

 

(4,451,909

)

 

 

 

Tax incentives

 

 

(58,483

)

 

 

(12,728

)

 

 

(26,524

)

Utilisation of tax losses carried forward

 

 

 

 

 

 

 

 

(372,852

)

Utilisation of group tax relief

 

 

 

 

 

 

 

 

(569,143

)

Under provision in prior year

 

 

88,588

 

 

 

543,457

 

 

 

 

Others

 

 

 

 

 

 

 

 

(49,466

)

 

 

 

1,138,561

 

 

 

6,348,444

 

 

 

1,592,549