annual report - Tenaga Nasional Berhad

Notes To The Financial Statements31 DEFERRED TAXATIONThe movements during the financial year relating to deferred tax are as follows:G group Company2008 2007 2008 2007RM’million RM’million RM’million RM’millionAs at the beginning of the financial year (6,274.4) (6,424.6) (5,524.8) (5,758.4)(Charged)/credited to income statement:– property, plant and equipment (99.5) 149.1 (13.7) 232.5– provision and allowances 36.5 1.1 39.2 1.1(63.0) 150.2 25.5 233.6As at the end of the financial year (6,337.4) (6,274.4) (5,499.3) (5,524.8)Subject to income taxDeferred tax assets (before offsetting)Provision and allowances 840.2 803.7 837.8 798.6Property, plant and equipment 488.1 558.5 0 0Offsetting (1,328.3) (1,362.2) (837.8) (798.6)Deferred tax assets (after offsetting) 0 0 0 0Deferred tax liabilities (before offsetting)Property, plant and equipment (7,665.7) (7,636.6) (6,337.1) (6,323.4)Offsetting 1,328.3 1,362.2 837.8 798.6Deferred tax liabilities (after offsetting) (6,337.4) (6,274.4) (5,499.3) (5,524.8)[ Tenaga Nasional Berhad ] [ Annual Report 2008 ]240The amount of deductible temporary differences and unused tax losses (both of which have no expiry date) for which nodeferred tax assets is recognised in the balance sheet are as follows:G group Company2008 2007 2008 2007RM’million RM’million RM’million RM’millionDeductible temporary differences 1,338.8 1,688.4 0 0Tax losses 1,184.2 1,222.7 0 0As at 31 August 2008, the temporary differences associated with unremitted earnings of subsidiaries for which deferredtax liabilities have not been recognised amounted to RM1,021.8 million (2007: RM740.2 million).