Haier 2009 Annual Report Download - page 137
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31 December 2009
NOTES TO FINANCIAL STATEMENTS 財務報表附註
海爾電器集團有限公司 135
28. Deferred Tax (Cont’d)
The Group has tax losses arising in Hong Kong of RMB31,782,000
(2008: RMB31,782,000) that are available indefinitely for offsetting
against future taxable profits of the companies in which the losses
arose. The Group also has tax losses arising in Mainland China of
RMB180,278,000 (2008: RMB178,059,000) that will expire in one
to five years for offsetting against future taxable profit. Deferred
tax assets have not been recognised in respect of these losses as
they have arisen in the Company and subsidiaries that have been
loss-making for some time and it is not considered probable that
taxable profits will be available against which the tax losses can
be utilised.
Pursuant to the PRC Corporate Income Tax Law, a 10% withholding
tax is levied on dividend declared to foreign investors from the
foreign investment enterprises established in Mainland China. The
requirement is effective from 1 January 2008 and applies to earnings
after 31 December 2007. A lower withholding tax rate may be
applied if there is a tax treaty between Mainland China and the
jurisdiction of the foreign investors. For the Group, the applicable
rate is 10%. The Group is therefore liable to withholding taxes on
dividends distributed by those subsidiaries established in Mainland
China in respect of earnings generated from 1 January 2008.
Except for the deferred tax liabilities of RMB9,588,000 (2008:
RMB9,588,000), which represents the withholding taxes for the
earnings of the PRC subsidiaries to be remitted, as at 31 December
2009, no deferred tax has been recognised for withholding taxes
that would be payable on the unremitted earnings that are subject
to withholding taxes of the Group’s subsidiaries established in
Mainland China. In the opinion of the directors, it is not probable
that these subsidiaries will distribute such earnings in the
foreseeable future. The aggregate amount of temporary differences
associated with investments in subsidiaries in Mainland China for
which deferred tax liabilities have not been recognised totalled
approximately RMB824,190,000 at 31 December 2009 (2008:
RMB184,928,000).
There are no income tax consequences attaching to the payment
of dividends by the Company to its shareholders.
28.
31,782,00031,782,000
180,278,000
178,059,000
10%
10%
9,588,000
9,588,000
)
824,190,000
184,928,000