FGV Annual Report 2014

48 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 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Subject to income tax – Deferred tax assets 1,254,586 1,281,465 24,873 21,257 – Deferred tax liabilities (734,185) (743,919) – – The analysis of deferred tax assets and deferred tax liabilities is as follows: Group Company 2014 2013 2014 2013 RM’000 RM’000 (Restated) RM’000 RM’000 Deferred tax assets: – Deferred tax assets to be recovered after more than 12 months 1,104,053 1,134,719 22,340 18,035 – Deferred tax assets to be recovered within 12 months 150,533 146,746 2,533 3,222 1,254,586 1,281,465 24,873 21,257 Deferred tax liabilities: – Deferred tax liabilities to be recovered after more than 12 months 599,685 692,874 – – – Deferred tax liabilities to be recovered within 12 months 134,500 51,045 – – 734,185 743,919 – – Deferred tax assets (net) 520,401 537,546 24,873 21,257 Introduction Performance Highlights About FGV Reports Financial Statements Others Strategy and Value Creation Performance Review & Progress Foreword to Shareholders Annual General Meeting Annual Report 2014 pg 307