Annual Report 2012 - e-KONG Group Limited

26. DEFERRED TAXThe movements for the year in the recognised deferred tax assets and liabilities are as follows:ConsolidatedDepreciationTax losses allowancesTotalHK$’000 HK$’000 HK$’000As at 1 January 2011 34,132 (450) 33,682Income statement (charges) / credit (21,657) 121 (21,536)Exchange adjustments (44) 3 (41)As at 31 December 2011 12,431 (326) 12,105Income statement charges (12,288) (154) (12,442)Exchange adjustments (31) (20) (51)As at 31 December 2012 112 (500) (388)The analysis of recognised deferred tax assets and liabilities, determined after appropriate offsetting, is as follows:Consolidated2012 2011HK$’000 HK$’000Deferred tax assets to be recovered:Within 12 months 113 6,108After 12 months 32 6,345145 12,453Deferred tax liabilities to be settled:Within 12 months (247) (168)After 12 months (286) (180)(533) (348)As at 31 December (388) 12,105Annual Report 2012 75