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Glorious Property
134
Annual Report 2011
Notes to the Consolidated Financial Statements
(Continued)
31 December 2011
21 Deferred Income Tax
Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset tax assets
against tax liabilities and when the deferred income taxes relate to the same tax authority.
RMB’000
2011
2010
Deferred income tax assets
— to be realised after more than 12 months
237,514
44,573
— to be realised within 12 months
70,513
156,594
308,027
201,167
Deferred income tax liabilities
— to be realised after more than 12 months
1,476,239
1,212,088
— to be realised within 12 months
—
—
1,476,239
1,212,088
Deferred income tax liabilities, net
(1,168,212)
(1,010,921)
The movements of the net deferred income tax liabilities are as follows:
RMB’000
2011
2010
Beginning of the year
(1,010,921)
(283,067)
Recognised in the consolidated statement of comprehensive income (note 31)
(157,291)
(727,854)
End of the year
(1,168,212)
(1,010,921)
Movement in deferred income tax assets/(liabilities) during the year, without taking into consideration the offsetting
of balances within the same tax jurisdiction, is as follows:
DEFERRED INCOME TAX ASSETS/(LIABILITIES)
RMB’000
Tax losses
Unrealised
profits
Other timing
differences
arising from
capitalised
interest
Other
expenses
Fair value
gains
Total
At 1 January 2010
17,110
156,574
— 11,516
(468,267)
(283,067)
Credited/(charged) to the consolidated
statement comprehensive income
(note 31)
40,868
(42,673)
(112,948)
— (613,101)
(727,854)
At 31 December 2010
57,978
113,901
(112,948)
11,516 (1,081,368)
(1,010,921)
Credited/(charged) to statement of
comprehensive income (note 31)
68,373
(11,813)
(83,586)
39,019
(169,284)
(157,291)
At 31 December 2011
126,351
102,088
(196,534)
50,535 (1,250,652)
(1,168,212)