NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 December 2021 28. DEFERRED TAX (continued) The movements in deferred tax liabilities during the years ended 31 December 2021 and 2020 are as follows: Fair value adjustments of investment properties Gain on fair value change of financial assets at fair value through profit or loss Fair value adjustments arising from acquisition of subsidiaries Unbilled revenue Others Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 31 December 2021 At 1 January 2021 246,799 7,805 21,160 1,383 3,826 280,973 Acquisition of subsidiaries (note 32) – – 7,162 – – 7,162 Deferred tax charged/(credited) to profit or loss during the year 54,730 887 (1,596) 9,033 1,807 64,861 Disposal of subsidiaries (note 34) (489) – – – (314) (803) Exchange realignment 4,656 (562) (518) (342) (215) 3,019 At 31 December 2021 305,696 8,130 26,208 10,074 5,104 355,212 31 December 2020 At 1 January 2020 178,353 8,047 22,229 1,070 1,587 211,286 Deferred tax charged/(credited) to profit or loss during the year 61,662 (609) (1,229) 204 2,130 62,158 Disposal of subsidiaries (4,744) – – – – (4,744) Exchange realignment 11,528 367 160 109 109 12,273 At 31 December 2020 246,799 7,805 21,160 1,383 3,826 280,973 In accordance with China laws and regulations, tax losses could be carried forward for five years to offset against future taxable profits. Deferred tax assets relating to unutilised tax losses are recognised to the extent that it is probable that sufficient taxable profit will be available to allow such deferred tax assets to be utilised. The Group had unused tax losses available for offsetting against future profits in respect of certain subsidiaries of US$28,998,000 as at 31 December 2021 (2020: US$24,630,000), and the deferred tax assets have not been recognised. No deferred tax assets have been recognised in respect of these losses due to the unpredictability of future available taxable profit of the subsidiaries to offset against the unused tax losses. The available period of the unused tax losses will expire in one to five years for offsetting against future taxable profits. R E A C H I N G N E W H E I G H T S 204
RkJQdWJsaXNoZXIy ODIwNTc=