Annual Report 2019

161 Miramar Hotel and Investment Company, Limited Annual Report 2019 Notes to the Financial Statements 22 Taxation in the consolidated statement of financial position (a) Tax (recoverable)/payable in the consolidated statement of financial position represents: 2019 2018 HK$’000 HK$’000 Provision for Hong Kong Profits Tax for the year 132,046 143,710 Provisional Hong Kong Profits Tax paid – (103,672) 132,046 40,038 Balance of Hong Kong Profits Tax provision relating to prior years 3,840 (47) Overseas tax payable 2,424 2,955 138,310 42,946 Representing: Tax recoverable (2,976) (5,535) Tax payable 141,286 48,481 138,310 42,946