NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
22
206
94
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(p), 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.
2014
2013
Deductible
Deductible
temporary differences/
tax losses
HK$'000
Deferred
tax assets
HK$'000
temporary differences/
Deferred
tax losses
HK$'000
tax assets
HK$'000
(i)
Excess of tax written down
values over accounting
carrying values of certain fixed assets
860
142
726
120
(ii) Tax losses
79,218
13,071
77,966
12,864
80,078
13,213
78,692
12,984
Hong Kong Ferry (Holdings) Company Limited Annual Report 2014
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