DEFERRED TAX ASSETS Sample Clauses

DEFERRED TAX ASSETS. Changes in deferred tax assets for the year ended December 31, 2020 and 2019, were as follows: Consolidated financial statements Balance per book as at Deferred tax from acquisition business (Note 12) The impact of TFRSs related to financial instruments Income(expense)during the year Balance per book as at Dec. 31, 2019 In profit or loss In other comprehensive income Dec. 31, 2020 Deferred tax assets : Allowance for doubtful accounts 1,050,630.70 - 111,941.22 41,860.94 - 1,204,432.86 Allowance for diminution in value of inventories 439,790.46 65,772.59 - (225,541.29) - 280,021.76 Margin in inventory 817,321.89 - - (313,337.36) - 503,984.53 Provision for goods return 138,659.08 - - 76,345.94 - 215,005.02 Lease agreements - - - 24,497.69 - 24,497.69 Employee benefit obligation 813,458.40 540,197.56 - 396,967.23 - 1,750,623.19 Total 3,259,860.53 605,970.15 111,941.22 793.15 - 3,978,565.05 Balance per book Income (expense) during the year Balance per book as at Dec. 31, 2018 In profit or loss In other comprehensive income as at Dec. 31, 2019 Deferred tax assets : Allowance for doubtful accounts 975,005.31 75,625.39 - 1,050,630.70 Allowance for diminution in value of inventories 705,764.90 (265,974.44) - 439,790.46 Margin in inventory - 817,321.89 - 817,321.89 Provision for goods return 87,556.94 51,102.14 - 138,659.08 Employee benefit obligation 262,625.80 170,946.20 379,886.40 813,458.40 Total 2,030,952.95 849,021.18 379,886.40 3,259,860.53 Baht Separate financial statements Balance per book as at Dec. 31, 2019 The impact of TFRSs related to financial instruments Income (expense) during the year Balance per book as at Dec. 31, 2020 In profit or loss In other comprehensive income Deferred tax assets : Allowance for doubtful accounts 975,700.01 22,637.03 6,004.77 - 1,004,341.81 Allowance for diminution in value of inventories 369,745.63 - (343,794.42) - 25,951.21 Provision for goods return 82,256.03 - 49,123.22 - 131,379.25 Lease agreements - - 23,464.23 - 23,464.23 Employee benefit obligation 701,501.60 - 324,584.20 - 1,026,085.80 Total 2,129,203.27 22,637.03 59,382.00 - 2,211,222.30 Separate financial statements Balance per book Income (expense) during the year Balance per book as at Dec. 31, 2018 In profit or loss In other comprehensive income as at Dec. 31, 2019 Deferred tax assets : Allowance for doubtful accounts 930,029.51 45,670.50 - 975,700.01 Allowance for diminution in value of inventories 524,630.86 (154,885.23) - 369,745.63 Provision for goods retu...
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DEFERRED TAX ASSETS. Deferred tax assets and deferred tax liabilities as follows:- As at March As at December As at March As at December 9,280 7,889 9,280 7,889 Consolidated financial statements Separate financial statements Deferred tax assets Deferred tax liabilities In Thousand Baht Consolidated financial statements Balance as at Recognized in Recognized in Exchange Balance as at December 31, Profit and Loss Other translating March 31, 2018 Additions Utilized/ Comprehensive differences 2019 Deferred tax assets resulted from Allowance for decline in value in inventories 5,762 1,057 - - - 6,819 Employee benefit obligations 1,961 408 - - 92 2,461 Other provision 166 - (166) - - - Total 7,889 1,465 (166) - 92 9,280 Deferred tax liabilities from Property, plant and equipment (17,419) - 603 - - (16,816) Prepaid rental expense (Land leasehold) (28,889) - 179 - - (28,710) Total (46,308) - 782 - - (45,526) Net (38,419) 1,465 616 - 92 (36,246) Deferred tax assets resulted from Allowance for decline in value in In Thousand Baht Separate financial statements Balance as at Recognized in Recognized Exchange Balance as at December 31, Profit and Loss in Other translating March 31, 2018 Additions Utilized/ Comprehensive differences 2019 inventories 5,762 1,057 - - - 6,819 Employee benefit obligation 1,961 408 - - 92 2,461 Other provision 166 - (166) - - - Total deferred tax assets 7,889 1,465 (166) - 92 9,280
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DEFERRED TAX ASSETS the recognition of deferred tax assets is based on forecasts of future taxable profit. The measurement of future taxable profit for the purposes of determining whether or not to recognize deferred tax assets depends on factors which may vary over time and which may lead to significant effects on the measurement of this item.
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DEFERRED TAX ASSETS. Any Deferred Tax Assets of Seller or any Selling Affiliate related to the Business;
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DEFERRED TAX ASSETS. The Majority Shareholder shall be responsible for, and shall indemnify the Purchaser from and against, that portion of any additional Taxes payable by the Parent, the Purchaser, the Company or any Subsidiary as a result of the reduction or disallowance of any deferred tax asset included in Current Assets for purposes of calculating Net Working Capital as further described in this Section 7.10(h). In the event that the determination of the Final Working Capital Schedule under Section 3.4 resulted in a Working Capital Deficit, the Majority Shareholder shall pay to the Purchaser, within ten (10) days after the amount of any such additional Taxes is finally determined (i) upon the filing of the Pre-Acquisition Consolidated Return, (ii) by the applicable Governmental Entity or (iii) by mutual agreement of the Majority Shareholder and the Purchaser, an amount equal to the full amount of such additional Taxes. In the event that the determination of the Final Working Capital Schedule under Section 3.4 did not result in a Working Capital Deficit, the Majority Shareholder shall pay to the Purchaser, within ten (10) days after the amount of any such additional Taxes is finally determined as provided above, an amount equal to only the amount of such additional Taxes that would have caused a Working Capital Deficit had the reduction or disallowance of any deferred tax asset included in Current Assets for purposes of calculating Net Working Capital been known at the time of the determination of the Final Working Capital Schedule under Section 3.4. In addition, in the event that the Parent, the Purchaser, the Company or any Subsidiary decides to contest the imposition of such additional Taxes in a forum that requires the prior payment of such additional Taxes in order to pursue such contest, the Majority Shareholder shall advance to the Purchaser an amount equal to the amount of such additional Taxes which the Majority Shareholder is otherwise obligated to pay under this Section 7.10(h) within ten (10) days after the Purchaser provides written notice of such decision to the Majority Shareholder. If all or any portion of such additional Taxes which the Majority Shareholder is otherwise obligated to pay under this Section 7.10(h) are refunded to the Parent, the Purchaser, the Company or any Subsidiary, an amount equal to such refund, plus any interest paid by the applicable Governmental Entity in connection with such refund, shall be paid by the Purchaser to the Majority S...
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DEFERRED TAX ASSETS. A statement of the proposed amount of deferred Tax assets relating to the PBO Liability to be included in the Business Assets transferred to the Company in the Company Split, and reflected on the Incorporation Balance Sheet and the Estimated Completion Date Balance Sheet (the "Deferred Tax Assets"). The amount of the Deferred Tax Assets shall be the estimated amount of valid and permissible income Tax deductions by the Company resulting from payments under the NECY Plans (and corresponding to the PBO Liability) to (i) Company employees scheduled to retire at the age of sixty (60) and (ii) probable early retirees at the age of fifty-six (56) during the four year period following the Completion Date, and shall in no event exceed three hundred ninety-five million Japanese yen (JPY 395,000,000); and
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DEFERRED TAX ASSETS. (DEFERRED TAX LIABILITIES) Consolidated Financial Statements As at Movement increase/(decrease) As at January 1,2021 Profit or loss Other comprehensive income December 31,2021 Deferred tax assets Consolidated Financial Statements As at Movement increase/(decrease) As at January 1,2021 Profit or loss Other comprehensive income December 31, 2021 Deferred tax liabilities Consolidated Financial Statements As at January 1,2020 Movement increase/(decrease) As at Profit or loss Other comprehensive income December 31, 2020 Deferred tax assets Deferred tax liabilities Separate Financial Statements As at Movement increase/(decrease) As at January 1,2021 Profit or loss Other comprehensive income December 31, 2021 Deferred tax assets (liabilities) Separate Financial Statements As at January 1,2020 Movement increase/(decrease) As at Profit or loss Other comprehensive income December 31, 2020 Deferred tax assets (liabilities) 24. BANK OVERDRAFT AND SHORT - TERM LOANS FROM FINANCIAL INSTITUTIONS Unit : Thousand Baht Interest rate % per annum Due (months) 2021 2020 Demco Plc. Co., Ltd. Demco Power Co., Ltd.
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DEFERRED TAX ASSETS. Deferred tax assets and deferred tax liabilities as follows:- Deferred tax assets Deferred tax liabilities As at September As at December As at September As at December 4,982 3,998 4,982 3,998 Consolidated financial statements Separate financial statements In Thousand Baht Consolidated financial statements Balance as at Recognized in Recognized in Exchange Balance as at December 31, Profit and Loss Other translating September 30, 2016 Additions Utilized/ Comprehensive differences 2017 Reversal Income Deferred tax assets resulted from Allowance for decline in value in inventories 858 694 - - 10 1,562 Employee benefit obligations 3,140 272 - - 8 3,420 Total deferred tax assets 3,998 966 - - 18 4,982 Deferred tax assets resulted from In Thousand Baht Separate financial statements Balance as at Recognized in Recognized Exchange Balance as at December 31, Profit and Loss in Other translating September 30, 2016 Additions Utilized/ Comprehensive differences 2017 Reversal Income Allowance for decline in value in inventories 858 694 - - 10 1,562 Employee benefit obligation 3,140 272 - - 8 3,420 Total deferred tax assets 3,998 966 - - 18 4,982
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DEFERRED TAX ASSETS. Deferred tax assets and deferred tax liabilities as follows:- As at June As at December As at June As at December 7,267 7,889 7,267 7,889 Consolidated financial statements Separate financial statements Deferred tax assets Deferred tax liabilities In Thousand Baht Consolidated financial statements Balance as at Recognized in Recognized in Balance as at December 31, Profit and Loss Other June 30, 2018 Additions Utilized/ Comprehensive 2019 Reversal Income Deferred tax assets resulted from Allowance for decline in value in inventories 5,762 - (1,494) - 4,268 Employee benefit obligations 1,961 730 - 308 2,999 Other provision 166 - (166) - - Total 7,889 730 (1,660) 308 7,267 Deferred tax liabilities from Property, plant and equipment (17,419) - 1,182 - (16,237) Prepaid rental expense (Land leasehold) (28,889) - 349 - (28,540) Total (46,308) - 1,531 - (44,777) Net (38,419) 730 (129) 308 (37,510) In Thousand Baht Deferred tax assets resulted from Allowance for decline in value in Separate financial statements Balance as at Recognized in Recognized Balance as at December 31, Profit and Loss in Other June 30, 2018 Additions Utilized/ Comprehensive 2019 Reversal Income inventories 5,762 - (1,494) - 4,268 Employee benefit obligation 1,961 730 - 308 2,999 Other provision 166 - (166) - - Total deferred tax assets 7,889 730 (1,660) 308 7,267 During the first quarter of 2019, a Japan subsidiary had repaid the loan from financial institution in full amount of JPY 300 million. As at June 30, 2019, a China subsidiary had short-term loan from financial institution in the amount of Yuan 8 million with interest rate at 5.6550% per annum, maturity less than one year. The loan is guaranteed by the construction on the subsidiary’s land leasehold.
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Related to DEFERRED TAX ASSETS

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

  • Imputed Income The Bank shall impute the economic benefit to the Executive on an annual basis, by adding the economic benefit to the Executive’s W-2, or if applicable, Form 1099.

  • Amended Tax Returns (a) Subject to Section 4.4 and notwithstanding Section 2.1 and Section 2.2, a Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Pre-Distribution Tax Period or a Straddle Tax Period for members of its Tax Group shall be permitted to prepare and file an amended Tax Return at its own cost and expense; provided, however, that (i) such amended Tax Return shall be prepared in a manner consistent with (and the Parties and their Affiliates shall not take any position inconsistent with) past practices of the Parties and their Affiliates or supported by an unqualified reasoned “should” or “will” opinion of a Qualified Tax Advisor, unless otherwise modified by a Final Determination or required by applicable Law, the IRS Ruling, the Tax Representation Letters, or the Tax Opinions; and (ii) if such amended Tax Return could result in one or more other Parties becoming responsible for a payment of Taxes pursuant to Article III or a payment to a Party pursuant to Article IX, such amended Tax Return shall be permitted only if the consent of such other Parties is obtained. The consent of such other Parties shall not be withheld unreasonably and shall be deemed to be obtained in the event that a Party (or its Subsidiary) is required to file an amended Tax Return as a result of an Audit adjustment that arose in accordance with Article IX. (b) A Party (or its Subsidiary) that is entitled to file an amended Tax Return for a Post-Distribution Tax Period, shall be permitted to do so at its own cost and expense and without the consent of any Party. (c) A Party that is permitted (or whose Subsidiary is permitted) to file an amended Tax Return, shall not be relieved of any liability for payments pursuant to this Agreement notwithstanding that another Party consented thereto.

  • Determination of Realized Tax Benefit Section 2.1. Basis Adjustments and Section 704(c) Allocations; The LLC 754 Election.

  • Income Tax Liability Within ten (10) Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of, or assess or propose the collection of Taxes required to have been withheld by, the Borrower which equal or exceed $100,000 in the aggregate, telephonic or facsimile notice (confirmed in writing within five (5) Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof;

  • Tax Attributes (i) Tax attributes with respect to, and the -------------- overpayment of, property taxes, sales and use taxes and franchise taxes which relate primarily to the Company Business and (ii) to the extent provided in the Tax Sharing Agreement, tax attributes with respect to, and the overpayment of, income and payroll taxes which relate to the Company Business or are otherwise allocated to the Company.

  • Tax Benefit Payments Section 3.01. Payments 9 Section 3.02. No Duplicative Payments 10

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.

  • Tax Benefit If, as the result of any Taxes paid or indemnified against by the Facility Lessee under this Section 9.2, the aggregate Taxes actually paid by the Tax Indemnitee for any taxable year and not subject to indemnification pursuant to this Section 9.2 are less (whether by reason of a deduction, credit, allocation or apportionment of income or otherwise) than the amount of such Taxes that otherwise would have been payable by such Tax Indemnitee (a "Tax Benefit"), then to the extent such Tax Benefit was not taken into account in determining the amount of indemnification payable by the Facility Lessee under paragraph (a) or (c) above and provided no Significant Lease Default or Lease Event of Default shall have occurred and be continuing (in which event the payment provided under this Section 9.2(e) shall be deferred until the Significant Lease Default or Lease Event of Default has been cured), such Tax Indemnitee shall pay to the Facility Lessee the lesser of (A) (y) the amount of such Tax Benefit, plus (z) an amount equal to any United States federal, state or local income tax benefit resulting to the Tax Indemnitee from the payment under clause (y) above and this clause (z) (determined using the same assumptions as set forth in the second sentence under the definition of After-Tax Basis) and (B) the amount of the indemnity paid pursuant to this Section 9.2 giving rise to such Tax Benefit; provided, however, that any excess of (A) over (B) shall be carried forward and reduce the Facility Lessee's obligations to make subsequent payments to such Tax Indemnitee pursuant to this Section 9.

  • Tax Returns and Payments; Pension Contributions Borrower and each of its Subsidiaries has timely filed all required tax returns and reports, and Borrower and each of its Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower and such Subsidiaries, in all jurisdictions in which Borrower or any such Subsidiary is subject to taxes, including the United States, unless such taxes are being contested in accordance with the following sentence. Borrower and each of its Subsidiaries, may defer payment of any contested taxes, provided that Borrower or such Subsidiary, (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Collateral Agent in writing of the commencement of, and any material development in, the proceedings, and (c) posts bonds or takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Neither Borrower nor any of its Subsidiaries is aware of any claims or adjustments proposed for any of Borrower’s or such Subsidiaries’, prior tax years which could result in additional taxes becoming due and payable by Borrower or its Subsidiaries. Borrower and each of its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and neither Borrower nor any of its Subsidiaries have, withdrawn from participation in, and have not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower or its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority.