7. EXPENSES Year ended Dec 2025 $’000 Year ended Dec 2024 $’000 Profit before income tax includes the following specific expenses: Remuneration of auditors Audit of the financial statements (Grant Thornton New Zealand Audit Limited) 101 77 Review of financial statements (Grant Thornton New Zealand Audit Limited) 39 38 140 115 Employee benefits expense Short-term benefits 2,178 2,236 Post-employment benefits 356 222 Other employee benefits – 5 Share based payments 1,781 892 4,315 3,355 Directors’ compensation Short-term benefits 1,255 1,066 Post-employment benefits 83 47 Share based payments 790 18 2,128 1,131 Other Consultants - share based payments 1,104 321 8. INCOME TAX Year ended Dec 2025 $’000 Year ended Dec 2024 $’000 Income tax expense Current tax 8,299 52,523 Deferred tax (207) (9,211) Under/(over) provision in prior years 223 (3,413) Adjustment1 178 998 Aggregate income tax expense 8,493 40,897 Deferred tax included in income tax expense comprises: Increase in deferred tax assets (207) (9,211) Numerical reconciliation of income tax expense and tax at the statutory rate Profit before income tax expense 38,929 182,940 Tax at the statutory tax rate of 30% 11,679 54,882 Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Research and development incentives – (289) Non-deductible share option expenses 1,102 369 Other non-deductible expenses 100 40 Unrealised foreign exchange gains not assessable (2,131) – Realised foreign exchange losses deductible (2,328) – Unrealised foreign exchange losses not deductible – 2,170 Adjustment1 178 998 8,600 58,170 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2025 43
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