Annual Report 2016 - QL Resources Sdn Bhd - page 103

Annual Report 2016
101
11. Deferred tax assets/(liabilities)
Recognised deferred tax assets/(liabilities)
Deferred tax assets and liabilities are attributable to the following:
Assets Liabilities Net
2016 2015 2016 2015 2016 2015
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Group
Property, plant and equipment - - (77,856) (70,944) (77,856) (70,944)
Biological assets - - (1,979) (2,063) (1,979) (2,063)
Tax loss carry-forwards 1,254 123 - - 1,254 123
Unabsorbed capital allowances 4,120 1,725 - - 4,120 1,725
Other temporary differences 1,627 1,188 (1,169) (1,005) 458 183
Tax assets/(liabilities) 7,001 3,036 (81,004) (74,012) (74,003) (70,976)
Set-off of tax (4,021) (1,954) 4,021 1,954 - -
Net tax assets/(liabilities) 2,980 1,082 (76,983) (72,058) (74,003) (70,976)
Movement in temporary differences during the year
Recognised Arising from Recognised
in profit business At in profit
At or loss combinations 31.3.2015/ or loss At
1.4.2014 (Note 24) 1.4.2015 (Note 24) 31.3.2016
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Group
Property, plant and equipment (63,877) (6,267) (800) (70,944) (6,912) (77,856)
Biological assets (2,063) - - (2,063) 84 (1,979)
Tax loss carry-forwards 107 16 - 123 1,131 1,254
Unabsorbed capital allowances 1,206 483 36 1,725 2,395 4,120
Other temporary differences 55 128 - 183 275 458
(64,572) (5,640) (764) (70,976) (3,027) (74,003)
Unrecognised deferred tax
Deferred tax has not been recognised in respect of the following items (stated at gross):
Group
2016 2015
RM’000 RM’000
Property, plant and equipment 7,108 5,190
Tax loss carry-forwards (182,671) (151,811)
Unabsorbed capital allowances (11,894) (20,643)
(187,457) (167,264)
Certain subsidiaries have tax incentives with tax exemption of 100% on its statutory income in accordance with Section
127 of the Income Tax Act, 1967 for a period of 10 years commencing from the year the subsidiaries achieve statutory
income. Deferred tax has not been recognised for temporary differences expected to be crystalised within the tax
incentive period.
Notes to the Financial Statements
(Cont’d.)
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