Annual Report 2009 - Greentown China Holdings Limited

Notes to the Consolidated Financial Statements
For The Year Ended 31 December 2009
21. DEFERRED TAXATION
The following are the major deferred tax assets (liabilities) recognised and movements thereon during the
current and prior years:
Temporary
differences
on revenue
recognition
and related
cost of sales
Impairment
losses Tax losses
Fair value
adjustments
LAT
provision
Undistributed
profits Others Total
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000
At 1 January 2008 9,753 – 46,209 (85,496) 96,749 – 6,615 73,830
Credit (charge) to profit or loss (6,849) 26,225 46,874 4,468 54,448 (20,756) (26,471) 77,939
At 31 December 2008 2,904 26,225 93,083 (81,028) 151,197 (20,756) (19,856) 151,769
Credit (charge) to profit or loss 12,034 (6,825) 139,805 28,097 13,642 (50,000) (16,242) 120,511
At 31 December 2009 14,938 19,400 232,888 (52,931) 164,839 (70,756) (36,098) 272,280
Others represent mainly deferred tax liabilities recognised in respect of temporary differences arising from
accelerated tax depreciation.
For the purpose of presentation in the consolidated statement of financial position, deferred tax assets and
liabilities 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 legal entity and fiscal authority. The following is the
analysis of the deferred tax balances for financial reporting purposes:
2009 2008
RMB’000 RMB’000
Deferred tax assets 451,859 260,832
Deferred tax liabilities (179,579) (109,063)
272,280 151,769
Greentown China Holdings Limited Annual Report 2009 147