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annual report | 2012 Gunung Capital Berhad (330171-P)
78
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
31 DECEMBER 2012
19 DEFERRED TAX LIABILITIES (cont’d)
The components and movements of deferred tax liabilities and deferred tax assets of the Group prior to offsetting are
as follows:- (cont’d)
Unabsorbed
capital
allowance
RM
Unutilised
tax losses
RM
Deferred tax assets
As at 1 January 2012 (357) (302,147) (302,504)
Recognised in profit or loss 357 (67,815) (67,458)
Under provision in previous years (280,328) (156,773) (437,101)
As at 31 December 2012 (280,328) (526,735) (807,063)
As at 1 January 2011 (1,259) - (1,259)
Recognised in profit or loss 902 (302,147) (301,245)
As at 31 December 2011 (357) (302,147) (302,504)
The components and movements of deferred tax liability and deferred tax asset of the Company are as follows:-
Deferred
tax liability
Accelerated
capital
allowance
RM
Deferred
tax asset
Unabsorbed
capital
allowance
RM
Total
RM
After
appropriate
offsetting
RM
As at 1 January 2012 357 (357) -
Recognised in profit or loss (357) 357 -
As at 31 December 2012 - - -
As at 1 January 2011 1,259 (1,259) -
Recognised in profit or loss (902) 902 -
As at 31 December 2011 357 (357) -
As at the end of the reporting period, deferred tax assets have not been recognised in respect of the following
items:-
Group Company
Unutilised tax losses 7,902,800 11,307,966 593,829 593,829
Unabsorbed capital allowance 19,245 1,140,556 19,245 19,245
2012
RM
2011
RM
2012
RM
2011
RM
7,922,045 12,448,522 613,074 613,074
The unutilised tax losses and unabsorbed capital allowance, which do not expire under current tax legislations, are
available for offset against the future taxable profits deriving from the same source of the respective companies in
the Group and of the Company.