| Summary of Deferred tax assets and liabilities |
Deferred tax assets and (liabilities) as of December 31, 2021 and 2020 and the related activity for the years ended December 31, 2021 and 2020 are as follows:
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|
|
|
|
|
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Recognized |
|
Recognized |
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|
|
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Balance |
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In |
|
In |
|
Balance |
|
|
December 31, |
|
Other |
|
Provision For |
|
December 31, |
|
|
2020 |
|
Comprehensive Income |
|
Income Taxes |
|
2021 |
Non-current assets: |
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|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Property, plant, and equipment |
|
|
(979,612) |
|
|
— |
|
|
96,537 |
|
$ |
(883,075) |
Other |
|
|
(8,431) |
|
|
|
|
|
8,431 |
|
$ |
— |
|
|
|
(988,043) |
|
|
— |
|
|
104,968 |
|
|
(883,075) |
Current assets: |
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|
|
|
|
|
|
|
|
|
|
|
Receivables |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Prepaid expenses |
|
|
(11,849) |
|
|
— |
|
|
(5,346) |
|
$ |
(17,195) |
Other (Section 24C allowance) |
|
|
26,452 |
|
|
23,451 |
|
|
116 |
|
$ |
50,019 |
|
|
|
14,603 |
|
|
23,451 |
|
|
(5,230) |
|
|
32,824 |
Current liabilities: |
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|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Income in Advance |
|
|
98,015 |
|
|
— |
|
|
29,114 |
|
$ |
127,129 |
Tax Losses |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Net deferred tax assets and (liabilities) |
|
$ |
(875,425) |
|
$ |
23,451 |
|
$ |
128,852 |
|
$ |
(723,122) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance |
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
Recognized In |
|
Recognized In |
|
Balance |
|
|
2019, as |
|
Business |
|
Provision For |
|
December 31, |
|
|
restated |
|
Combinations |
|
Income Taxes |
|
2020 |
Non-current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
Property, plant, and equipment |
|
|
(1,005,005) |
|
|
(69,537) |
|
|
94,930 |
|
|
(979,612) |
Other |
|
|
— |
|
|
— |
|
|
(8,431) |
|
|
(8,431) |
|
|
|
(1,005,005) |
|
|
— |
|
|
86,499 |
|
|
(988,043) |
Current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Other (Section 24C allowance) |
|
|
(11,709) |
|
|
— |
|
|
(140) |
|
|
(11,849) |
Other (Other) |
|
|
— |
|
|
— |
|
|
26,452 |
|
|
26,452 |
|
|
|
(11,709) |
|
|
— |
|
|
26,312 |
|
|
14,603 |
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Income in Advance |
|
|
105,108 |
|
|
— |
|
|
(7,093) |
|
|
98,015 |
Tax Losses |
|
|
174,963 |
|
|
|
|
|
(174,963) |
|
|
— |
|
|
|
280,070 |
|
|
— |
|
|
(182,056) |
|
|
98,015 |
Net deferred tax assets and (liabilities) |
|
$ |
(736,645) |
|
$ |
(69,537) |
|
$ |
(69,245) |
|
$ |
(875,425) |
|
Deferred tax assets and (liabilities) as of December 31, 2020 and 2019 and the related activity for the years ended December 31, 2020 and 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recognized |
|
Recognized |
|
|
|
|
Balance |
|
In |
|
In |
|
Balance |
|
|
December 31, |
|
Business |
|
Provision For |
|
December 31, |
|
|
2019, as restated |
|
Combinations |
|
Income Taxes |
|
2020, as restated |
Non-current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
Property, plant, and equipment |
|
|
(1,005,005) |
|
|
(69,537) |
|
|
94,930 |
|
|
(979,612) |
Other |
|
|
— |
|
|
|
|
|
(8,431) |
|
$ |
(8,431) |
|
|
|
(1,005,005) |
|
|
(69,537) |
|
|
86,499 |
|
$ |
(988,043) |
Current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Other (Section 24C allowance) |
|
|
(11,709) |
|
|
— |
|
|
(140) |
|
|
(11,849) |
Other (Other) |
|
|
— |
|
|
— |
|
|
26,452 |
|
|
26,452 |
|
|
|
(11,709) |
|
|
— |
|
|
26,312 |
|
|
14,603 |
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Income in Advance |
|
|
105,108 |
|
|
— |
|
|
(7,093) |
|
|
98,015 |
Tax Losses |
|
|
174,963 |
|
|
|
|
|
(174,963) |
|
|
— |
|
|
|
280,071 |
|
|
— |
|
|
(182,056) |
|
|
98,015 |
Net deferred tax assets and (liabilities) |
|
$ |
(736,645) |
|
$ |
(69,537) |
|
$ |
(69,245) |
|
$ |
(875,425) |
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance |
|
Recognized In |
|
Recognized In |
|
Balance |
|
|
December 31, |
|
Business |
|
Provision For |
|
December 31, |
|
|
2018 |
|
Combinations |
|
Income Taxes |
|
2019, as restated |
Non-current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
Property, plant, and equipment |
|
|
(853,231) |
|
|
(218,402) |
|
|
66,628 |
|
$ |
(1,005,005) |
Other |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
|
|
|
(853,231) |
|
|
(218,402) |
|
|
66,628 |
|
|
(1,005,005) |
Current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Receivables |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Prepaid expenses |
|
|
(1,536) |
|
|
— |
|
|
1,536 |
|
$ |
— |
Other (Section 24C allowance) |
|
|
(70,427) |
|
|
— |
|
|
58,718 |
|
$ |
(11,709) |
|
|
|
(71,963) |
|
|
— |
|
|
60,254 |
|
|
(11,709) |
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
Income in Advance |
|
|
117,378 |
|
|
— |
|
|
(12,270) |
|
$ |
105,108 |
Tax Losses |
|
|
373,618 |
|
|
|
|
|
(198,656) |
|
$ |
174,963 |
|
|
|
490,996 |
|
|
|
|
|
(210,926) |
|
|
280,071 |
Net deferred tax assets and (liabilities) |
|
$ |
(434,198) |
|
$ |
(218,402) |
|
$ |
(84,044) |
|
$ |
(736,645) |
|