1999 Annual Report - Delta Electronics
1999 Annual Report - Delta Electronics
1999 Annual Report - Delta Electronics
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37<br />
Undeposited pension<br />
Unrealized foreign<br />
exchange loss, net<br />
Royalty payable<br />
Reserve for decline<br />
in market value and<br />
inventory obsolescence<br />
Others, net<br />
Investment tax credits<br />
Investment income<br />
accounted for under<br />
the equity method<br />
B. Net deferred income tax assets - current<br />
Deferred income tax assets - current<br />
Deferred income tax liabilities - current<br />
Net deferred income tax assets - current<br />
(shown as other current assets in the balance sheet)<br />
C. Net deferred income tax liabilities - noncurrent<br />
Deferred income tax assets - noncurrent<br />
Allowance for deferred income tax assets<br />
- noncurrent<br />
Net deferred income tax assets - noncurrent<br />
Deferred income tax liabilities - noncurrent<br />
Net deferred income tax liabilities - noncurrent<br />
December 31, <strong>1999</strong> December 31, 1998<br />
Original Original<br />
amount Tax effects amount Tax effects<br />
D. Income taxes payable (refundable) for the years ended December 31, <strong>1999</strong> and 1998 were arrived at as follows:<br />
Deferred tax assets - non-current<br />
Additional 10% corporate income tax on<br />
undistributed earnings<br />
Current year's income tax expense<br />
Effect of deferred income tax<br />
Over provision of income tax in prior years<br />
Less: Income subject to separate tax<br />
Prepaid income tax and tax withheld<br />
Others<br />
Income tax payable (refundable)<br />
December 31,<br />
<strong>1999</strong> 1998<br />
December 31,<br />
<strong>1999</strong> 1998<br />
<strong>1999</strong> 1998<br />
E. As of December 31, <strong>1999</strong>, the unused investment tax credits for the procurement of machinery and equipment,<br />
R & D and training expenditures of the Company and subsidiary, DNI amounted to $502,643. The tax credits<br />
will expire in 2003.<br />
F. The Company's income tax returns have been assessed and approved by the Tax Authority up to 1997. In 1994,<br />
additional income tax payable amounting to $7,421 was assessed. As the Company applied for a reassessment in<br />
April, 1997, no accrual was made for this tax liability. However, in accordance with the instructions from the Tax<br />
Authority, the Company provided the certificates of time deposit amounting to $7,900 in June 1997 to guarantee