NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
24
INCOME TAX IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued)
(c)
Deferred tax assets not recognised:
In accordance with the accounting policy set out in note 1(q), the Group has not recognised the following deferred tax assets in respect of deductible temporary differences and cumulative tax losses as it is not probable that future taxable profits against which the deductible temporary differences and tax losses can be utilised will be available in the relevant tax jurisdiction and entity. The tax losses do not expire under current tax legislation.
(i) Excess of tax written down values over accounting carrying values of
other property, plant and equipment
(ii) Tax losses
2016
Deductible
temporary differences/
tax losses
HK$'000
2015
Deductible
Deferred
tax assets
HK$'000
temporary differences/
tax losses
HK$'000
Deferred
tax assets
HK$'000
640
106
752
124
92,704
15,402
88,458
14,596
93,344
15,508
89,210
14,720
Hong Kong Ferry (Holdings) Company Limited
Annual Report 2016 127