DEFERRED TAX ASSETS. Deferred tax assets and deferred tax liabilities as follows:- In Thousand Baht As at June As at December As at June As at December 30, 2019 31, 2018 30, 2019 31, 2018 7,267 7,889 7,267 7,889 (44,777) (46,308) - - (37,510) (38,419) 7,267 7,889 Consolidated financial statements Separate financial statements Deferred tax assets Deferred tax liabilities Changes in deferred tax assets for the six-month period ended June 30, 2019, were as follows: In Thousand Baht Consolidated financial statements Balance as at Recognized in Recognized in Balance as at December 31, Profit and Loss Other June 30, 2018 Additions Utilized/ Comprehensive 2019 Reversal Income Deferred tax assets resulted from Allowance for decline in value in inventories 5,762 - (1,494) - 4,268 Employee benefit obligations 1,961 730 - 308 2,999 Other provision 166 - (166) - - Total 7,889 730 (1,660) 308 7,267 Deferred tax liabilities from Property, plant and equipment (17,419) - 1,182 - (16,237) Prepaid rental expense (Land leasehold) (28,889) - 349 - (28,540) Total (46,308) - 1,531 - (44,777) Net (38,419) 730 (129) 308 (37,510) In Thousand Baht Deferred tax assets resulted from Allowance for decline in value in Separate financial statements Balance as at Recognized in Recognized Balance as at December 31, Profit and Loss in Other June 30, 2018 Additions Utilized/ Comprehensive 2019 Reversal Income inventories 5,762 - (1,494) - 4,268 Employee benefit obligation 1,961 730 - 308 2,999 Other provision 166 - (166) - - Total deferred tax assets 7,889 730 (1,660) 308 7,267 15. SHORT-TERM LOAN FROM FINANCIAL INSTITUTION During the first quarter of 2019, a Japan subsidiary had repaid the loan from financial institution in full amount of JPY 300 million. As at June 30, 2019, a China subsidiary had short-term loan from financial institution in the amount of Yuan 8 million with interest rate at 5.6550% per annum, maturity less than one year. The loan is guaranteed by the construction on the subsidiary’s land leasehold.
DEFERRED TAX ASSETS. (DEFERRED TAX LIABILITIES) Deferred tax assets (Deferred tax liabilities) as at December 31 is as follows: Unit : Thousand Baht Consolidated Financial Statements Separate Financial Statements 2021 2020 2021 2020 Deferred tax assets 7,375 6,930 - - Less Deferred tax liabilities (297) (405) - - Net deferred tax assets 7,078 6,525 - - Deferred tax assets 82,837 101,905 82,837 101,905 Less Deferred tax liabilities (303,864) (391,824) (265,234) (360,502) Net deferred tax assets (221,027) (289,919) (182,397) (258,597) Movements in total deferred tax assets and liabilities during the years ended December 31, 2021 and 2020 were as follows: Unit : Thousand Baht Consolidated Financial Statements As at Movement increase/(decrease) As at January 1,2021 Profit or loss Other comprehensive income December 31,2021 Deferred tax assets Deferred tax assets Allowance for diminution in value of inventories 1,913 (47) - 1,866 Non current provisions for employee benefits 3,325 562 - 3,887 Other 1,692 (70) - 1,622 Total Deferred tax assets 6,930 445 - 7,375 Unit : Thousand Baht Consolidated Financial Statements As at Movement increase/(decrease) As at January 1,2021 Profit or loss Other comprehensive income December 31, 2021 Deferred tax liabilities Lease Liabilities 405 (108) - 297 Total Deferred tax liabilities 405 (108) - 297 Net 6,525 553 - 7,078 Deferred tax liabilities Deferred tax assets Allowance expected credit loss receivable - 3,943 - 3,943 Allowance for diminution in value of inventories 786 52 - 838 Allowance impairment of investment property 80 (48) - 32 Other Current provisions - 1,516 - 1,516 Non current provisions for employee benefits 13,438 1,857 - 15,295 Loss carry forward 87,601 (26,388) - 61,213 Total Deferred tax assets 101,905 (19,068) - 82,837 Deferred tax liabilities Lease liabilities 5,715 135 - 5,850 Depreciation of assets 551 (138) - 413 Gain from measurement fair value 354,236 - (95,265) 258,971 Other 31,322 7,308 - 38,630 Total Deferred tax liabilities 391,824 7,305 (95,265) 303,864 Net (289,919) (26,373) 95,265 (221,027) Unit : Thousand Baht Consolidated Financial Statements As at January 1,2020 Movement increase/(decrease) As at Profit or loss Other comprehensive income December 31, 2020 Deferred tax assets Deferred tax assets Allowance for diminution in value of inventories 1,531 382 - 1,913 Non current provisions for employee benefits 3,994 (13) (656) 3,325 Other 1,781 (89) - 1,692 Total Deferred tax assets 7,306 280 (656) 6,930 Deferred tax lia...
DEFERRED TAX ASSETS. Changes in deferred tax assets for the nine-month period ended September 30, 2019, were as follows: Baht Consolidated financial statements As at December Income (expense) during the period As at September 31, 2018 In profit or loss In other comprehensive income 30, 2019 Deferred tax assets: Allowance for doubtful accounts 975,005.31 (12,767.83) - 962,237.48 Allowance for diminution in value of inventories 705,764.90 (240,626.71) - 465,138.19 Provision for goods return 87,556.94 261,256.67 - 348,813.61 Employee benefit obligations 262,625.80 131,708.00 - 394,333.80 Margin in inventory - 552,996.68 - 552,996.68 Total 2,030,952.95 692,566.81 - 2,723,519.76 Baht Separate financial statements As at December Income (expense) during the period As at September 31, 2018 In profit or loss In other comprehensive income 30, 2019 Deferred tax assets: Allowance for doubtful accounts 930,029.51 (56,621.50) - 873,408.01 Allowance for diminution in value of inventories 524,630.86 (121,432.73) - 403,198.13 Provision for goods return 49,693.12 227,357.74 - 277,050.86 Employee benefit obligations 230,020.20 98,278.60 - 328,298.80 Total 1,734,373.69 147,582.11 - 1,881,955.80 13. TRADE AND OTHER ACCOUNT PAYABLES Trade and other accounts payable consisted of: Baht Consolidated financial statements Separate financial statements As at September 30, 2019 As at December 31, 2018 (Reclassified) (Note 23) As at September 30, 2019 As at December 31, 2018 (Reclassified) (Note 23) Trade accounts payable 26,974,197.91 42,968,685.18 16,549,566.22 39,812,638.15 Notes payale 851,224.45 136,098.75 286,639.40 3,433.32 Other payables 19,860,425.77 24,689,210.92 10,798,621.20 18,091,238.42 Total 47,685,848.13 67,793,994.85 27,634,826.82 57,907,309.89 Other accounts payable Other accounts payable consisted of: Baht Consolidated financial statements Separate financial statements As at September 30, 2019 As at December 31, 2018 (Reclassified) (Note 23) As at September 30, 2019 As at December 31, 2018 (Reclassified) (Note 23) Accrued expenses 9,365,703.01 12,895,493.59 4,119,612.23 7,445,582.38 Distributor account payable 9,143,799.44 6,235,575.14 5,579,139.00 5,173,854.93 Others 1,350,923.32 5,558,142.19 1,099,869.97 5,471,801.11 Total 19,860,425.77 24,689,210.92 10,798,621.20 18,091,238.42 14. SHORT-TERM FROM OTHER PERSON Short-term from other person are presented in the form of promissory note, maturity at call with the interest of 4.00% per annum .
DEFERRED TAX ASSETS. Changes in deferred tax assets for the year ended December 31, 2020 and 2019, were as follows: Baht Consolidated financial statements Balance per book as at Deferred tax from acquisition business (Note 12) The impact of TFRSs related to financial instruments Income(expense)during the year Balance per book as at Dec. 31, 2019 In profit or loss In other comprehensive income Dec. 31, 2020 Deferred tax assets : Allowance for doubtful accounts 1,050,630.70 - 111,941.22 41,860.94 - 1,204,432.86 Allowance for diminution in value of inventories 439,790.46 65,772.59 - (225,541.29) - 280,021.76 Margin in inventory 817,321.89 - - (313,337.36) - 503,984.53 Provision for goods return 138,659.08 - - 76,345.94 - 215,005.02 Lease agreements - - - 24,497.69 - 24,497.69 Employee benefit obligation 813,458.40 540,197.56 - 396,967.23 - 1,750,623.19 Total 3,259,860.53 605,970.15 111,941.22 793.15 - 3,978,565.05 Baht Consolidated financial statements Balance per book Income (expense) during the year Balance per book as at Dec. 31, 2018 In profit or loss In other comprehensive income as at Dec. 31, 2019 Deferred tax assets : Allowance for doubtful accounts 975,005.31 75,625.39 - 1,050,630.70 Allowance for diminution in value of inventories 705,764.90 (265,974.44) - 439,790.46 Margin in inventory - 817,321.89 - 817,321.89 Provision for goods return 87,556.94 51,102.14 - 138,659.08 Employee benefit obligation 262,625.80 170,946.20 379,886.40 813,458.40 Total 2,030,952.95 849,021.18 379,886.40 3,259,860.53 Baht Separate financial statements Balance per book as at Dec. 31, 2019 The impact of TFRSs related to financial instruments Income (expense) during the year Balance per book as at Dec. 31, 2020 In profit or loss In other comprehensive income Deferred tax assets : Allowance for doubtful accounts 975,700.01 22,637.03 6,004.77 - 1,004,341.81 Allowance for diminution in value of inventories 369,745.63 - (343,794.42) - 25,951.21 Provision for goods return 82,256.03 - 49,123.22 - 131,379.25 Lease agreements - - 23,464.23 - 23,464.23 Employee benefit obligation 701,501.60 - 324,584.20 - 1,026,085.80 Total 2,129,203.27 22,637.03 59,382.00 - 2,211,222.30 Baht Separate financial statements Balance per book Income (expense) during the year Balance per book as at Dec. 31, 2018 In profit or loss In other comprehensive income as at Dec. 31, 2019 Deferred tax assets : Allowance for doubtful accounts 930,029.51 45,670.50 - 975,700.01 Allowance for diminution in value of inventories 524,630.86 (...
DEFERRED TAX ASSETS. Any Deferred Tax Assets of Seller or any Selling Affiliate related to the Business;
DEFERRED TAX ASSETS. A statement of the proposed amount of deferred Tax assets relating to the PBO Liability to be included in the Business Assets transferred to the Company in the Company Split, and reflected on the Incorporation Balance Sheet and the Estimated Completion Date Balance Sheet (the "Deferred Tax Assets"). The amount of the Deferred Tax Assets shall be the estimated amount of valid and permissible income Tax deductions by the Company resulting from payments under the NECY Plans (and corresponding to the PBO Liability) to (i) Company employees scheduled to retire at the age of sixty (60) and (ii) probable early retirees at the age of fifty-six (56) during the four year period following the Completion Date, and shall in no event exceed three hundred ninety-five million Japanese yen (JPY 395,000,000); and
DEFERRED TAX ASSETS. The Majority Shareholder shall be responsible for, and shall indemnify the Purchaser from and against, that portion of any additional Taxes payable by the Parent, the Purchaser, the Company or any Subsidiary as a result of the reduction or disallowance of any deferred tax asset included in Current Assets for purposes of calculating Net Working Capital as further described in this Section 7.10(h). In the event that the determination of the Final Working Capital Schedule under Section 3.4 resulted in a Working Capital Deficit, the Majority Shareholder shall pay to the Purchaser, within ten (10) days after the amount of any such additional Taxes is finally determined (i) upon the filing of the Pre-Acquisition Consolidated Return, (ii) by the applicable Governmental Entity or (iii) by mutual agreement of the Majority Shareholder and the Purchaser, an amount equal to the full amount of such additional Taxes. In the event that the determination of the Final Working Capital Schedule under Section 3.4 did not result in a Working Capital Deficit, the Majority Shareholder shall pay to the Purchaser, within ten (10) days after the amount of any such additional Taxes is finally determined as provided above, an amount equal to only the amount of such additional Taxes that would have caused a Working Capital Deficit had the reduction or disallowance of any deferred tax asset included in Current Assets for purposes of calculating Net Working Capital been known at the time of the determination of the Final Working Capital Schedule under Section 3.4. In addition, in the event that the Parent, the Purchaser, the Company or any Subsidiary decides to contest the imposition of such additional Taxes in a forum that requires the prior payment of such additional Taxes in order to pursue such contest, the Majority Shareholder shall advance to the Purchaser an amount equal to the amount of such additional Taxes which the Majority Shareholder is otherwise obligated to pay under this Section 7.10(h) within ten (10) days after the Purchaser provides written notice of such decision to the Majority Shareholder. If all or any portion of such additional Taxes which the Majority Shareholder is otherwise obligated to pay under this Section 7.10(h) are refunded to the Parent, the Purchaser, the Company or any Subsidiary, an amount equal to such refund, plus any interest paid by the applicable Governmental Entity in connection with such refund, shall be paid by the Purchaser to the Majority S...
DEFERRED TAX ASSETS the recognition of deferred tax assets is based on forecasts of future taxable profit. The measurement of future taxable profit for the purposes of determining whether or not to recognize deferred tax assets depends on factors which may vary over time and which may lead to significant effects on the measurement of this item.
DEFERRED TAX ASSETS
