Annual Report - QuamIR

Notes to the Consolidated Financial Statements (Continued)
38 Deferred income tax liabilities
The deferred income tax liabilities recognised and movements are as
follows:
38
Group
Fair value
adjustments
on investment
properties
Adjustments
on prepaid
land lease
payments Other items Total
HK$ Million HK$ Million HK$ Million HK$ Million
At 1 January 2010 675.6 431.2 3.4 1,110.2
Currency translation differences 39.9 17.9 0.1 57.9
Net of amortisation capitalised in
properties under development
– (7.4) – (7.4)
Credited to income statement
(Note 12)
12
(37.1) (4.8) (1.0) (42.9)
At 31 December 2010
678.4 436.9 2.5 1,117.8
At 1 January 2011 678.4 436.9 2.5 1,117.8
Currency translation differences 40.1 18.5 – 58.6
Transfer out for disposal of a
subsidiary (Note 43(b))
Net of amortisation capitalised in
properties under development
(Credited)/charged to income
statement (Note 12)
43(b) (24.6) – – (24.6)
– (6.0) – (6.0)
12 (26.1) (5.1) 1.4 (29.8)
At 31 December 2011
667.8 444.3 3.9 1,116.0
Deferred income tax assets are recognised for tax losses carried
forward to the extent that the realisation of the related tax benefits
through the future taxable profits is probable. The Group did not
recognise deferred income tax assets of HK$358.9 million (2010:
HK$345.5 million) in respect of tax losses of HK$1,704.1 million (2010:
HK$1,664.7 million) to carry forward against future taxable income.
These tax losses have no expiry dates except for the tax losses of
HK$914.8 million (2010: HK$875.5 million) which will expire at various
dates up to and including 2016 (2010: 2015).
1,704,100,000
1,664,700,000
358,900,000
345,500,000
914,800,000
875,500,000
•
175