|
6. Income tax
The Group’s expected tax charge/(credit) of $nil for each year is based on the applicable tax rate in Ireland and reconciles to the actual tax charge/(credit) as follows:
| |
|
Year ended
December 31,
|
|
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
| |
|
$’000
|
|
|
$’000
|
|
|
$’000
|
|
|
Loss before tax
|
|
|
48,258
|
|
|
|
38,961
|
|
|
|
35,587
|
|
|
Tax credit calculated at the domestic tax rate 12.5%
|
|
|
(6,032
|
)
|
|
|
(4,870
|
)
|
|
|
(4,448
|
)
|
|
Tax effects of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Losses for which no deferred tax asset was recognized
|
|
|
6,029
|
|
|
|
4,027
|
|
|
|
4,200
|
|
Income taxable at a higher rate of tax
|
|
|
583 |
|
|
|
1,594 |
|
|
|
118 |
|
|
Other permanent differences
|
|
|
(580 |
) |
|
|
(751 |
) |
|
|
130 |
|
|
Tax charge/(credit)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|