For the financial year ended 31 December 2015
91
ANNUAL REPORT 2015
21. DEFERRED INCOME TAXATION
(CONTINUED)
The movements in the deferred income tax account are as follows:
The Group
The Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Beginning of financial year
63,581
53,085
–
–
Tax (credited)/charged to fair value reserve:
- changes in fair value
(15,512)
10,402
–
–
Tax (credited)/charged to profit or loss:
- others
(1,168)
93
–
–
(1,168)
93
–
–
Currency translation differences
17
1
–
–
End of financial year
46,918
63,581
–
–
Deferred income tax assets are recognised for tax losses carried forward to the extent that realisation of the related
tax benefits through future taxable profits is probable. The Group has unrecognised deferred income tax assets arising
from tax losses of $21.7 million (2014: $22.5 million) at the end of the reporting period. These tax losses can be carried
forward and used to offset against future taxable income subject to meeting certain statutory requirements by those
companies in their respective countries of incorporation. These tax losses have no expiry date.
The Group’s and Company’s deferred tax liabilities have been computed based on the corporate tax rate and tax laws
prevailing at the end of the reporting period.
NOT E S TO T H E F I NAN C I A L S TAT EME N T S
(CONTINUED)
