Page 176 - Pakistan Oilfield Limited - Annual Report 2022

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PAKISTAN OILFIELDS LIMITED
Notes to and Forming Part of the

Financial Statements

For the year ended June 30, 2022

2022 2021
Rupees ('000)
29.2 Dividend from subsidiary and associated companies
Subsidiary company

Capgas (Pvt) Limited 21,226 12,737
Associated company

National Refinery Limited 199,916 -
Attock Petroleum Limited 275,896 45,401
497,038 58,138
30. PROVISION FOR TAXATION

Current - for the year 10,774,352 7,600,364

Deferred - for the year 277,915 (304,285)
11,052,267 7,296,079
30.1 Reconciliation of tax charge for the year

Accounting profit - before taxation 36,987,380 20,678,334

* Tax at applicable tax rate of 44.98% (2021: 51.09%) 16,636,924 10,564,561
Tax effect of depletion allowance, royalty payments
and amounts not taxable or taxed at lower rates (8,076,344) (3,537,433)
Impact of super tax 2,386,544 -

Tax effect of change in applicable rate in respect
of deferred tax 364,161 -

Others (259,018) 268,951

Tax charge for the year 11,052,267 7,296,079

* The applicable tax rate is the weighted average of tax rates applicable to income from oil and gas
concessions and income from other activities.

31. OPERATING SEGMENTS
The financial statements have been prepared on the basis of a single reportable segment. Revenue
from external customers for products of the Company is disclosed in note 22.
Revenue from two major customers of the Company constitutes 75% of the total revenue during
the year ended June 30, 2022 (June 30, 2021: 67%).