FGV Annual Report 2012

105 F i n a n c i a l S t a t e m e n t s 2 0 1 2 P e n y a t a K e w a n g a n 45 DEFERRED TAXATION Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate offsetting, are shown in the statement of financial position: Group Company 2012 2011 2012 2011 RM’000 RM’000 RM’000 RM’000 Subject to income tax – Deferred tax assets 1,479,710 41,998 6,435 7,933 – Deferred tax liabilities (91,461) (154,782) – – At 1 January, as previously stated (112,784) (123,978) (7,933) (1,585) Inception of LLA liability (Note 21(c)) 1,460,673 – – – Charged/(credited) to profit or loss (Note 14): – intangible assets (131) 2,285 526 – – property, plant and equipment 19,437 (2,554) (15) 20 – inventories 2,768 440 – – – receivables 15,683 5,655 – – – payables (1,988) 2,126 – – – provisions (117) (141) (726) (849) – tax losses 47,816 2,662 1,713 (5,519) – LLA liability (44,481) – – – – others 1,875 721 – – 40,862 11,194 1,498 (6,348) Currency translation differences (502) – – – At 31 December 1,388,249 (112,784) (6,435) (7,933) Deferred tax assets – receivables 11,168 – – – – property, plant and equipment 8,721 – – – – intangible assets 6,887 – – – – inventories 2,768 – – – – LLA liability 1,416,192 – – – – payables 7,974 9,962 – – – provisions – 117 1,835 1,109 – tax losses 80,137 32,321 5,138 6,851 – others 2,249 – – – Amount before offsetting 1,536,096 42,400 6,973 7,960 Offsetting (56,386) (402) (538) (27) 1,479,710 41,998 6,435 7,933