content_image/218234.jpg content_image/218235.jpg content_image/218236.jpg
The reconciliation between tax expense and the product of accounting profit multiplied by the Company’s statutory tax rate is as follows: 

<img src='content_image/218234.jpg'>

Deferred income tax relates to the following: 

## Deferred income tax 

<img src='content_image/218235.jpg'>

## Reconciliation of deferred income tax (liabilities) assets, net 

<img src='content_image/218236.jpg'>

The Company has net operating losses in its U.S. subsidiaries of $6.6 million (December 29, 2012: $9.7 million) that are available for use from 2014–2028. A deferred income tax asset has been recognized for the amount that is probable to be realized. 

The Company can control the distribution of profits, and accordingly, no deferred income tax liability has been recorded on the undistributed profit of its subsidiaries that will not be distributed in the foreseeable future. 

The temporary difference associated with investments in subsidiaries, for which a deferred tax liability has not been recognized totals $0.3 million (December 29, 2012: $0.3 million). 

There are no income tax consequences attached to the payment of dividends in either 2013 or 2012 by the Company to its shareholders. 

