| 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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Recognized |
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Recognized |
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Balance |
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In |
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In |
|
Balance |
|
|
December 31, |
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Other |
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Provision For |
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December 31, |
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2020 |
|
Comprehensive Income |
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Income Taxes |
|
2021 |
Non-current assets: |
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|
|
|
|
|
|
|
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Intangible assets |
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— |
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— |
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— |
|
$ |
— |
Property, plant, and equipment |
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|
(979,612) |
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— |
|
|
96,537 |
|
$ |
(883,075) |
Other |
|
|
(8,431) |
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|
|
|
|
8,431 |
|
$ |
— |
|
|
|
(988,043) |
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— |
|
|
104,968 |
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|
(883,075) |
Current assets: |
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|
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Receivables |
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— |
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— |
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— |
|
$ |
— |
Prepaid expenses |
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|
(11,849) |
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— |
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|
(5,346) |
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$ |
(17,195) |
Other (Section 24C allowance) |
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|
26,452 |
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|
23,451 |
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|
116 |
|
$ |
50,019 |
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|
14,603 |
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|
23,451 |
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(5,230) |
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|
32,824 |
Current liabilities: |
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|
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|
|
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Depreciation |
|
|
— |
|
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— |
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|
— |
|
$ |
— |
Income in Advance |
|
|
98,015 |
|
|
— |
|
|
29,114 |
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$ |
127,129 |
Tax Losses |
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|
— |
|
|
— |
|
|
— |
|
$ |
— |
Net deferred tax assets and (liabilities) |
|
$ |
(875,425) |
|
$ |
23,451 |
|
$ |
128,852 |
|
$ |
(723,122) |
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Balance |
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|
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December 31, |
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Recognized In |
|
Recognized In |
|
Balance |
|
|
2019, as |
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Business |
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Provision For |
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December 31, |
|
|
restated |
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Combinations |
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Income Taxes |
|
2020 |
Non-current assets: |
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|
|
|
|
|
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|
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Intangible assets |
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$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
Property, plant, and equipment |
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(1,005,005) |
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(69,537) |
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|
94,930 |
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(979,612) |
Other |
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— |
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— |
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(8,431) |
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|
(8,431) |
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|
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(1,005,005) |
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— |
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|
86,499 |
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(988,043) |
Current assets: |
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|
|
|
|
|
|
|
|
|
|
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Other (Section 24C allowance) |
|
|
(11,709) |
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— |
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|
(140) |
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|
(11,849) |
Other (Other) |
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|
— |
|
|
— |
|
|
26,452 |
|
|
26,452 |
|
|
|
(11,709) |
|
|
— |
|
|
26,312 |
|
|
14,603 |
Current liabilities: |
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|
|
|
|
|
|
|
|
|
|
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Income in Advance |
|
|
105,108 |
|
|
— |
|
|
(7,093) |
|
|
98,015 |
Tax Losses |
|
|
174,963 |
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|
|
|
|
(174,963) |
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|
— |
|
|
|
280,070 |
|
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— |
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|
(182,056) |
|
|
98,015 |
Net deferred tax assets and (liabilities) |
|
$ |
(736,645) |
|
$ |
(69,537) |
|
$ |
(69,245) |
|
$ |
(875,425) |
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