Registration statement for securities of certain foreign private issuers

DEFERRED TAX ASSETS AND LIABILITIES (Tables)

v3.22.2.2
DEFERRED TAX ASSETS AND LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
DEFERRED TAX ASSETS AND LIABILITIES    
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:

    

    

Recognized

    

Recognized

    

Balance

In

In

Balance

December 31,

Other

Provision For

December 31,

2020

    

Comprehensive Income

    

Income Taxes

    

2021

Non-current assets:

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:

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:

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)

    

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)

    

    

    

    

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)

Summary of unused tax losses for which no deferred tax assets have been recognized

    

Year Ended December 31,

2021

    

2020

Unused tax losses for which no deferred tax assets has been recognized

$

(9,982,291)

$

(6,155,623)

Potential tax benefit of such unused tax losses at applicable statutory tax rates

$

(2,050,255)

$

(1,305,245)

    

Year Ended December 31,

2020

    

2019

Unused tax losses for which no deferred tax assets has been recognized

$

(6,155,623)

$

(4,044,750)

Potential tax benefit of such unused tax losses at applicable statutory tax rates

$

(1,305,245)

$

(768,413)