Page 109 - 2596-CA SR Lanka- Annual Report 2022

Note 22 - Depreciation and amortisation
For the year ended 31 December 2022 2021
Rs.'000 Rs.'000

Depreciation for the year 60,133 48,706
Depreciation of library books 905 824
Amortisation of intangible assets 26,161 37,851
87,199 87,381
Depreciation charged to expenditure on learning and professional development (905) (824)
Total depreciation and amortisation 86,294 86,557

Note 23 - Other expenses
For the year ended 31 December 2022 2021
Rs.'000 Rs.'000

Legal and Professional fees 4,944 6,729
Auditors' remuneration 419 413
Bank charges and commissions 11,571 11,039
General expenses 41,208 23,285
Total other expenses 58,142 41,466
Note 24 - Net finance income
24.1 Finance income
For the year ended 31 December 2022 2021
Rs.'000 Rs.'000

Interest income from,
Government securities 183,347 6,754
Fixed deposits 52,846 79,633
Staff loans 7,393 2,708
Total finance income 243,586 89,095

24.2 Finance cost
Interest on bank loans (1,677) -
Interest on lease liability (6,851) (5,437)
Total finance cost (8,528) (5,437)
Net finance income 235,058 83,658

Note 25 - Income tax expense
Reconciliation between current tax expenses and the accounting income over expenditure;
For the year ended 31 December 2022 2021
Rs.'000 Rs.'000

Income over expenditure for the year before tax 251,365 208,287
Net income not liable for income tax (12,185) (119,497)
Income liable for tax 239,180 88,790
Taxation 33,485 12,431
Under provision for previous years - 10,649
Charge for the year 33,485 23,080

Tax liability for the year 2022 is computed at the rate of 14%.

CA SRI LANKA | Integrated Annual Report 2022 107