121 / 152
Notes to the
financial statements
For the financial year ended 31 December 2018
119
A N N U A L R E P O R T
2 0 1 8
16.
Deferred tax
Deferred tax as at 31 December relates to the following:
Group
Consolidated balance sheet
Consolidated statement
of comprehensive income
31.12.2018
31.12.2017 1.1.2017
31.12.2018
31.12.2017
$’000
$’000 $’000
$’000
$’000
Deferred tax assets:
Provisions
–
20
252
20
232
Differences in
depreciation for tax
purposes
–
(3)
(4)
(3)
(1)
–
17
248
Deferred tax liabilities:
Provisions
–
45
75
45
30
Differences in
depreciation for tax
purposes (Note A)
(5,545)
(89)
(530)
76
(441)
(5,545)
(44)
(455)
Deferred tax expense
138
(180)
Note A: The movement of deferred tax liabilities arising from differences in depreciation for tax
purposes for the financial year ended 31 December 2018 is summarised as follows:
Group
31.12.2018
$’000
Beginning of the year
89
Acquisition of a subsidiary
5,403
Charged to consolidated statement of comprehensive income
76
Translation difference
(23)
5,545
Tax consequence of proposed dividends
There are no income tax consequences (2017: Nil) attached to the dividends proposed by the
Company to the shareholders but not recognised as a liability in the financial statements (Note 30).