ANNUAL%20REPORT%202015%20eng

Notes to Consolidated Financial Statements
25 INCOME TAX IN THE CONSOLIDATED STATEMENT OF FINANCIAL
POSITION
(a)
Tax payable in the consolidated statement of financial position represents:
2015 2014
USD’000 USD’000
At 1 January 68 3,426
Provision for the year (Note 7(a)) 647 8,492
Offsetting with other tax receivables (321) (11,369)
Income tax paid (404) (175)
Exchange adjustments 154 (306)
At 31 December 144 68
(b)
Deferred tax assets and liabilities recognised
The components of deferred tax assets/(liabilities) recognised in the consolidated balance sheet and
the movements during the year are as follows:
Unrealised
foreign
exchange
differences
on long-term
borrowings
Fair value
adjustments
in relation
to the
Acquisition
Tax losses
Unrealised
profits on
intra-group
transactions
Depreciation
and
amortisation
Allowance
for doubtful
debts
Total
USD’000 USD’000 USD’000 USD’000 USD’000 USD’000 USD’000
Deferred tax arising from:
At 1 January 2014 9,462 (532) 4,742 5,986 1,256 (148,760) (127,846)
Credited to profit or loss
(Note 7(a)) 13,893 332 1,372 2,520 1,277 48,076 67,470
Exchange adjustments (1,667) 53 (702) (827) (153) — (3,296)
At 31 December 2014 21,688 (147) 5,412 7,679 2,380 (100,684) (63,672)
At 1 January 2015 21,688 (147) 5,412 7,679 2,380 (100,684) (63,672)
Credited/(charged) to profit
or loss (Note 7(a)) 14,440 (657) 888 (3,107) (1,691) — 9,873
Exchange adjustments (1,389) 94 (336) (386) (38) — (2,055)
At 31 December 2015 34,739 (710) 5,964 4,186 651 (100,684) (55,854)
172
Annual Report 2015