FGV Annual Report 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018 314 FGV HOLDINGS BERHAD EXAMINED OUR NUMBERS 51 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 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Subject to income tax - Deferred tax assets 605,163 740,359 779,421 28,119 - - - Deferred tax liabilities (735,370) (812,363) (849,327) - - - The analysis of deferred tax assets and deferred tax liabilities is as follows: Group Company 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 31.12.2018 RM’000 31.12.2017 RM’000 1.1.2017 RM’000 Deferred tax assets: - Deferred tax assets to be recovered after more than 12 months 472,324 625,837 761,369 - - - - Deferred tax assets to be recovered within 12 months 132,839 114,522 18,052 28,119 - - 605,163 740,359 779,421 28,119 - - Deferred tax liabilities: - Deferred tax liabilities to be recovered after more than 12 months (735,370) (816,123) (864,256) - - - - Deferred tax liabilities to be recovered within 12 months - 3,760 14,929 - - - (735,370) (812,363) (849,327) - - - Deferred tax (liabilities)/ assets (net) (130,207) (72,004) (69,906) 28,119 - -