HKAS 12 - Template for Deferred Tax Computation1
Content
Template for deferred tax computation Client: Period:
(Taxable)/ deductible temporary difference HK$'000 (c)=(a)-(b) Deferred tax balance
133
Notes
Carrying amount
Tax base
Tax rate
HK$'000 (a) CURRENT LIABILITIES Trade and bills payables Tax payable Other payables and accruals Accrued salaries Accrued fines and penalties Interest payable Provision for product warranties Deposits received (Revenue received in advance) Interest-bearing bank and other borrowings Foreign currency loan payable Other borrowings [] NON-CURRENT LIABILITIES Interest-bearing bank borrowings Loan from a fellow subsidiary Pension scheme liability [] TOTAL LIABILITIES BEFORE DEFERRED TAX DEFERRED TAX FOR LIABILITIES (B) Deferred tax asset Deferred tax liability TOTAL NET ASSETS (Agreed to Financial Statements) Reconciliation: DEFERRED TAX at beginning of year Adjusted deferred tax for: Add: Subsidiaries acquired during the year* Less: Subsidiaries disposed of during the year* DEFERRED TAX at end of year (A) + (B) Amount credited/(charged) to Income Statement Amount credited/(charged) to Equity
HK$'000 (a)
HK$'000 (b)
(d)
HK$'000 (e)=(c)*(d) (e)=f+g+h+i+j 0 0 0 0 0 0 0 0 0 0
Asset P&L account Equity HK$'000 HK$'000 (f) (g)
(Liability) P&L account Equity HK$'000 HK$'000 (h) (i)
Not recognized
HK$'000 (j)
0 0 0 0 0 0 0 0 0 0
0 0 0 0
0 0 0 0
0
0
0
0
0
* For subsidiaries acquired/disposed of during the year, the corresponding entry will normally be to goodwill/disposal account.
Note: Where the deferred tax asset also includes the amounts relating to tax losses previously not recognized, this should be separately identified to enable the amounts to be reconciled to the deferred tax balances in the financial statements.
Template for deferred tax computation Client: Period:
(Taxable)/ deductible temporary difference HK$'000 (c)=(b)-(a) Deferred tax balance
133
Notes
Carrying Amount
Tax Base
Tax rate
HK$'000 (a) NON-CURRENT ASSETS Fixed assets Leasehold land and buildings Freehold land Machinery, equipment and computers Furniture and fixtures Motor vehicles Leasehold improvements Investment properties Intangible assets Deferred development costs Research costs [ ] Interests in associates Long term investments Rental deposits
HK$'000 (a)
HK$'000 (b)
(d)
HK$'000 (e)=(c)*(d) (e)=f+g+h+i+j
Asset P&L account Equity HK$'000 HK$'000 (f) (g)
(Liability) P&L account Equity HK$'000 HK$'000 (h) (i)
Not recognized
HK$'000 (j)
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0
0 0 0 0 0 0
0 0 0 0 0 0
CURRENT ASSETS Inventories Trade receivables Gross amount General provision Loan receivable from a fellow subsidiary Interest receivable Short term listed investments Pledged deposits Cash and bank balances
0
0
0 0 0 0 0 0
0 0 0 0 0 0
TOTAL ASSETS BEFORE DEFERRED TAX DEFERRED TAX FOR ASSETS (A) 0 0 0 0 0
(Taxable)/ deductible temporary difference HK$'000 (c)=(a)-(b) Deferred tax balance
133
Notes
Carrying amount
Tax base
Tax rate
HK$'000 (a) CURRENT LIABILITIES Trade and bills payables Tax payable Other payables and accruals Accrued salaries Accrued fines and penalties Interest payable Provision for product warranties Deposits received (Revenue received in advance) Interest-bearing bank and other borrowings Foreign currency loan payable Other borrowings [] NON-CURRENT LIABILITIES Interest-bearing bank borrowings Loan from a fellow subsidiary Pension scheme liability [] TOTAL LIABILITIES BEFORE DEFERRED TAX DEFERRED TAX FOR LIABILITIES (B) Deferred tax asset Deferred tax liability TOTAL NET ASSETS (Agreed to Financial Statements) Reconciliation: DEFERRED TAX at beginning of year Adjusted deferred tax for: Add: Subsidiaries acquired during the year* Less: Subsidiaries disposed of during the year* DEFERRED TAX at end of year (A) + (B) Amount credited/(charged) to Income Statement Amount credited/(charged) to Equity
HK$'000 (a)
HK$'000 (b)
(d)
HK$'000 (e)=(c)*(d) (e)=f+g+h+i+j 0 0 0 0 0 0 0 0 0 0
Asset P&L account Equity HK$'000 HK$'000 (f) (g)
(Liability) P&L account Equity HK$'000 HK$'000 (h) (i)
Not recognized
HK$'000 (j)
0 0 0 0 0 0 0 0 0 0
0 0 0 0
0 0 0 0
0
0
0
0
0
* For subsidiaries acquired/disposed of during the year, the corresponding entry will normally be to goodwill/disposal account.
Note: Where the deferred tax asset also includes the amounts relating to tax losses previously not recognized, this should be separately identified to enable the amounts to be reconciled to the deferred tax balances in the financial statements.
Template for deferred tax computation Client: Period:
(Taxable)/ deductible temporary difference HK$'000 (c)=(b)-(a) Deferred tax balance
133
Notes
Carrying Amount
Tax Base
Tax rate
HK$'000 (a) NON-CURRENT ASSETS Fixed assets Leasehold land and buildings Freehold land Machinery, equipment and computers Furniture and fixtures Motor vehicles Leasehold improvements Investment properties Intangible assets Deferred development costs Research costs [ ] Interests in associates Long term investments Rental deposits
HK$'000 (a)
HK$'000 (b)
(d)
HK$'000 (e)=(c)*(d) (e)=f+g+h+i+j
Asset P&L account Equity HK$'000 HK$'000 (f) (g)
(Liability) P&L account Equity HK$'000 HK$'000 (h) (i)
Not recognized
HK$'000 (j)
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0
0 0 0 0 0 0
0 0 0 0 0 0
CURRENT ASSETS Inventories Trade receivables Gross amount General provision Loan receivable from a fellow subsidiary Interest receivable Short term listed investments Pledged deposits Cash and bank balances
0
0
0 0 0 0 0 0
0 0 0 0 0 0
TOTAL ASSETS BEFORE DEFERRED TAX DEFERRED TAX FOR ASSETS (A) 0 0 0 0 0
