深南电B:2017 deafen年半年度报告(英文版)(49)

来源:网络    作者:网络报    人气:    发布时间:2019-05-01    

  For the government subsidy containing both asset-related parts and income-related parts at the same time, distinguish the different parts and make the accounting treatment, classify the parts which are difficult to be distinguished as the income-related government subsidy.

  The government subsidy related to the Company’s daily activities is included in other incomes or

  offsets related costs in accordance with the essence of economic business; while the government

  subsidy unrelated to the Company’s daily activities is included in non operating income and

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  expenditure.

  When the recognized government subsidy needs to be refunded or has balance of related deferred income, offset the book balance of related deferred income, and include the excess parts in the current profits and losses or (the asset-related government subsidy for offsetting the book value of underlying assets in initial recognition) adjust the book value of assets; directly include these belong to other situations in the current profits and losses.

  The basis for confirming the relevant public subsidies of the Company and its subsidiaries is as follows:

  Shenzhen Shennandian Environmental Protection Co., Ltd. (Hereinafter referred to as the "Environmental Protection Company"), a subsidiary of the Company, is a sludge treatment unit, according to the (CS No. [2015] 78) notice of Ministry of Finance and the State Administration of Taxation about printing and issuing the "comprehensive utilization of resources and labor services VAT discounts directory", Environmental Protection Company can enjoy the value-added tax refund policy for sludge treatment with 70% recognized as the public subsidy income.

  26. Deferred income tax asset/ deferred income tax liability

  (1) Current income tax

  On balance sheet date, current income tax liability (or asset) formed during and before current period will be measured as amount of income tax payable (or repayable) as specified by tax law. Assessable income on which current income expense is based represents the profit before tax for the year upon adjustment against relevant tax rules.

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  (2) Deferred income tax asset & deferred income tax liability

  For balance of book value of some asset/liability item and its tax base, or temporary difference derived from balance of book value and tax base of the item, which is not confirmed as asset or liability but tax base can be fixed as specified by tax law, deferred income tax asset & deferred income tax liability will be confirmed in balance sheet liability approach.

  Deferred income tax liabilities are not recognized for taxable temporary differences related to: the initial recognition of goodwill; and the initial recognition of an asset or liability in a transaction which is neither a business combination nor affects accounting profit or taxable profit (or deductible loss) at the time of the transaction. In addition, the Group recognizes the corresponding deferred income tax liability for taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, except when both of the following conditions are satisfied: the Company able to control the timing of the reversal of the temporary difference; and it is probable that the temporary difference will not reverse in the foreseeable future.

  Deferred income tax assets are not recognized for deductible temporary differences related to the initial recognition of an asset or liability in a transaction which is neither a business combination nor affects accounting profit or taxable profit (or deductible loss) at the time of the transaction. In addition, the Group recognizes the corresponding deferred income tax asset for deductible temporary differences associated with investments in subsidiaries, associates and joint ventures to the extent that it is probable that taxable profits will be available against which the deductible temporary differences can be utilized, except when both of the following conditions are satisfied: it is not probable that the temporary difference will reverse in the foreseeable future; and it is not probable that taxable profits will be available in the future, against which the temporary difference can be utilized.

  For deductible loss and taxation decrease which can be carried over to following fiscal year,

  relevant deferred income tax asset may be confirmed subject to amount of taxable income which

  is likely to be acquired to deduct deductible loss and taxation decrease in the future.

  On balance sheet day, those deferred income tax assets and income tax liabilities, according to the tax law, calculation will be on tax rate applicable to retrieving period of assets or clearing of liabilities.

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