43 KATHMANDU A NNUAL REPORT  2013 5  INCOME TAX EXPENSE GROUP PARENT 2013 2012 2013 2012 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Income statement Current income tax charge 18,826 17,053 62 (154) Deferred income tax charge (refer note 15) (4,018) (779) (17) - Income tax charge / (credit) reported in income statement 14,808 16,274 45 (154) Reconciliation of effective tax charge Profit before income tax 58,982 51,126 18,175 18,127 Income tax calculated at 28% (2012: 28%) 16,515 14,315 5,089 5,075 Adjustments to taxation: Adjustments due to different rate in different jurisdictions 530 654 - - Non-taxable income - - (5,606) (5,600) Expenses not deductible for tax purposes 630 946 69 31 Effect of change in corporate tax rate - - - - Utilisation of tax losses by group companies - - - - Tax expense transferred to foreign currency translation reserve (2,929) 464 - - Adjustments in respect of prior years 62 (105) 493 340 Income tax charge / (credit) reported in income statement 14,808 16,274 45 (154) GROUP PARENT Note 2013 2012 2013 2012 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Movement in cash flow hedge reserve before tax 11,203 ) 6,818 ) - ) - ) Tax credit / (charge) relating to cash flow hedge reserve (2,827) (1,072) - ) - ) Movement in cash flow hedge reserve after tax 8,376 ) 5,746 - - ) Foreign currency translation reserve before tax (20,723) 4,159 ) - ) - ) Tax credit / (charge) relating to foreign currency translation reserve 2,537 ) (420) - ) - ) Movement in foreign currency translation reserve after tax (18,186) 3,739 ) - - ) Total other comprehensive income before tax (9,520) 10,977 ) - ) - ) Total tax credit / (charge) on other comprehensive income (290) (1,492) - ) - ) Total other comprehensive income after tax (9,810) 9,485 ) - - ) Current tax 2,929 ) (464) - ) - ) Deferred tax 15 (3,219) (1,028) - ) - ) Total tax credit / (charge) on other comprehensive income (290) (1,492) - - ) The tax charge / (credit) relating to components of other  comprehensive income is as follows: