2020 Annual Report
d)
2020 ANNUAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
The movement of deferred tax assets and liabilities in the year is as follows:
Year of loss
(33,279)
306,014
Deferred tax asset:
Property,
networks and
equipment
Tax loss
carryforwards
Intangible
Assets
Bad debt
reserve
Labor
obligations
and others
Total
As at January 1, 2019
$
33,279
104,714
481,895
64,601
Credited (charged) to
Statement of income
2011
2012
2013
195,880
880,369
2014
2015
(33,619)
6,618
44,350
290,084
2016
2017
As at December 31, 2019
410,728
448,276
71,219
240,230
1,170,453
2018
2019
Credited (charged) to
2020
Statement of income
1,455
(34,070)
31,024
196,013
194,422
As at December 31, 2020 $
412,183
414,206
102,243
436,243
1,364,875
Deferred income tax liability:
As at January 1, 2019
$
Property, networks and
equipment
Inventories and others
Total
(2,509,400)
(220,971)
December 31, 2020
Restated amount
$
MEGACABLE.
Year of expiration
514
2021
243
2022
2,116
2023
25,958
2024
32,809
2025
214
2026
17,271
2027
126,353
2028
980,468
2029
187,998
2030
1,373,944
As of December 31, 2020, a deferred tax asset of $ 26,550 was generated for temporary differences related to a permanent
investment. However, this asset was not recognized as the company has no intention of selling it.
(21) Costs and expenses by nature-
The cost of services, and selling and administrative expenses are integrated as follows:
(2,730,371)
2020
2019
(Charged) credited to the income
statement
As at December 31, 2019
(Charged) credited to the income
statement
As at December 31, 2020
$
(203,173)
18,757
Cost of services:
(184,416)
Depreciation
(2,712,573)
(202,214)
(2,914,787)
Programming
Technical staff labor
Links
313,056
(719,141)
(406,085)
(2,399,517)
(921,355)
(3,320,872)
The Group does not recognize deferred taxes for the purposes of deferred taxes on investments in subsidiaries and associates
As at December 31, 2020 and 2019, the Group maintains accumulated consolidated tax losses for a total of
$1,373,944 and $1,336,182, respectively, which right to be amortized against future consolidated earnings expires
as follows:
Publicity and promotion
Connections
Power sources
Amortization
Lease depreciation
External works
Other minor [works]
Call traffic
Total cost of services
es
S
3,847,091
3,191,175
2,667,692
2,571,787
1,602,550
1,443,381
368,790
416,781
381,894
394,914
310,601
672,253
335,677
252,137
275,928
272,257
139,146
302,925
82,225
63,765
14,022
26,348
81,801
53,370
10,107,417
9,661,093
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