SEC Form 17-A: Annual Report - the solid group inc website

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The net deferred tax assets of the Parent Company and subsidiaries having a net deferred tax
asset position as of December 31 relate to the following:
2012 2011
Deferred tax assets:
Fair value adjustments on
investment property P 23,831,400 P 23,831,400
Accrued municipal taxes 14,721,085 9,026,376
Allowance for inventory
obsolescence 11,462,608 20,630,203
Allowance for impairment on
trade and other receivables 6,483,910 3,776,335
Retirement benefit obligation 3,066,967 6,094,079
Unrealized foreign
currency loss – net 2,982,141 165,867
Provision for warranty 2,181,337 7,288,866
Unamortized pre-operating expenses 54,271 112,648
Unamortized past service costs - 1,156,422
Deferred tax liability –
Retirement benefit asset ( 1,647,964 ) ( 2,099,707 )
Deferred tax assets – net P 63,135,755 P 69,982,489