Sustainability and Governance Report
☐ Notes
20.
to the FINANCIAL STATEMENTS
Notes to the
Deferred tax (cont'd)
Unrecognised tax losses and capital allowances
At the end of the reporting period, the Group has unabsorbed tax losses and capital allowances of approximately $31,757,000 (2019: $31,380,000) and $271,000 (2019:
$274,000), respectively, which are available for offset against future taxable profits of the companies, for which no deferred tax asset is recognised due to uncertainty of its
recoverability. The use of these tax losses and capital allowances is subject to the agreement of the tax authorities and compliance with certain provisions of the tax
legislation of the respective countries in which the companies operates.
Unrecognised temporary differences relating to investments in subsidiaries
At the end of the reporting period, no deferred tax liability (2019: $Nil) has been recognised for taxes that would be payable on the undistributed earnings of certain of the
Group's subsidiaries as the Group has determined that undistributed earnings of its subsidiaries will not be distributed in the foreseeable future. Such temporary differences
for which no deferred tax liability has been recognised aggregate to $9,391,000 (2019: $8,555,000).
Tax consequences of proposed dividends
There are no income tax consequences (2019: $Nil) attached to the dividends to the shareholders proposed by the Company but not recognised as a liability in the financial
statements (Note 32).
21. Trade and other payables
Current
Trade payables:
- external parties
Other payables:
- subsidiary
- related party
Sundry creditors
Deposits received
Accrued operating expenses
Non-current
Deposits received
Total trade and other payables
Group
Company
2020
2019
2020
2019
$'000
$'000
$'000
$'000
632
2,081
26
42
12
17
15
9
75
14
1,681
2,050
68
127
2,322
4,265
94
168
43
43
2,365
4,265
94
168
Trade payables due to external parties and related party are non-interest bearing and are normally settled on 30 to 60 days' terms.
Other payables due to subsidiary and related party are non-trade related, non-interest bearing, unsecured and repayable on demand.
Deposits received are non-interest bearing and refundable at the expiration of the lease term.
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