KIM HENG OFFSHORE & MARINE HOLDINGS LIMITED
80
Notes to the financial statements
13 Deferred tax liabilities
Deferred tax assets and liabilities of the Group (prior to offsetting of balances) during the year are as follows:
At
1 January
Recognised in
profit or loss
(Note 20)
At
31 December
$’000
$’000
$’000
2015
Deferred tax liabilities
Property, plant and equipment
6,698
46
6,744
Deferred tax assets
Provisions
(78)
–
(78)
Receivables
(777)
–
(777)
(855)
–
(855)
5,843
46
5,889
2014
Deferred tax liabilities
Property, plant and equipment
6,727
(29)
6,698
Deferred tax assets
Provisions
(78)
–
(78)
Receivables
(777)
–
(777)
(855)
–
(855)
5,872
(29)
5,843
Deferred tax liabilities and assets are offset when there is a legally enforceable right to set off current tax
assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The amounts
determined after appropriate offsetting are included in the statements of financial position as follows:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Deferred tax liabilities
5,889
5,843
–
–
As at the reporting date, no deferred tax assets have been recognised in respect of the following temporary
differences:
Group
Company
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Unutilised tax losses
7,065
6,152
–
–
Deductible temporary differences
4,919
567
–
–
11,984
6,719
–
–
