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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Major components of tax expense (income) [abstract] |
Summary of income tax expense | Total income tax expense consists of:
| December 31, 2021 |  | December 31, 2020
Current tax expense | $ | 90,174 |  |  | $ | 88,575 |
Deferred tax expense (recovery) | 49,796 |  |  | (6,214) |
| $ | 139,970 |  |  | $ | 82,361 |
Summary of income tax expense attributable to geographical jurisdiction | Income tax expense (recovery) attributable to each geographical jurisdiction for the Company is as follows:
| 2021 |  |  | 2020 |
Turkey | $ | 93,144 |  |  | $ | 68,793 |
Canada | 36,622 |  |  | 28,412 |
Greece | 8,307 |  |  | (8,763) |
Romania | 1,897 |  |  | (6,081) |
| $ | 139,970 |  |  | $ | 82,361 |
Summary of key factors affecting income tax expense | The key factors affecting income tax expense for the years are as follows:
| 2021 |  | 2020
Earnings from continuing operations before income tax | $ | 151,066 |  |  | $ | 206,328 |
Canadian statutory tax rate | 27% |  | 27%
Tax expense on net earnings at Canadian statutory tax rate | $ | 40,788 |  |  | $ | 55,709 |
Items that cause an increase (decrease) in income tax expense: |  |  |
Foreign income subject to different income tax rates than Canada | (13,618) |  |  | (21,893) |
Reduction in Greek income tax rate | (11,434) |  |  | — |
Increase in Turkish income tax rate | 6,150 |  |  | — |
Turkish investment tax credits | (47,394) |  |  | (21,669) |
Québec mineral tax | 12,089 |  |  | 12,389 |
Non-tax effected operating losses | 9,734 |  |  | 26,040 |
Non-deductible expenses and other items | 33,413 |  |  | 7,400 |
Flow-through share renouncement | 6,397 |  |  | — |
Impairment and write-down of Stratoni assets | 13,359 |  |  | — |
Turkish inflation adjustment exemption benefit | (10,761) |  |  | — |
Foreign exchange related to the weakening of the Turkish Lira | 77,254 |  |  | 18,295 |
Foreign exchange and other translation adjustments | 16,292 |  |  | (1,426) |
Future and current withholding tax on foreign income dividends | 7,655 |  |  | 8,705 |
Other | 46 |  |  | (1,189) |
Income tax expense | $ | 139,970 |  |  | $ | 82,361 |
Summary of change in net deferred tax position | The change in the Company’s net deferred tax position was as follows:
| 2021 |  | 2020
Net deferred income tax liability |  |  |
Balance at January 1, | $ | 414,554 |  |  | $ | 416,291 |
Deferred income tax expense (recovery) in the statement of operations | 49,796 |  |  | (6,214) |
Deferred tax assets from acquisition of QMX Gold Corporation | (14,122) |  |  | — |
Deferred tax expense related to discontinued operations | — |  |  | 5,040 |
Deferred tax impact on disposition of Tocantinzinho | (11,010) |  |  | — |
Deferred tax recovery in the consolidated statement of OCI | (23) |  |  | (563) |
Balance at December 31, | $ | 439,195 |  |  | $ | 414,554 |
Summary of temporary difference | The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary difference | Deferred tax assets | Deferred tax liabilities | Expense (Recovery)
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020
Property, plant and equipment | $ | — |  | $ | — |  | $ | 490,868 |  | $ | 470,500 |  | $ | 37,727 |  | $ | (32,891) |
Loss carryforwards | 19,166 |  | 33,587 |  | — |  | — |  | 22,206 |  | 7,325 |
Liabilities | 34,012 |  | 35,794 |  | — |  | 10,070 |  | (5,909) |  | 1,647 |
Future withholding taxes | — |  | — |  | — |  | 6,234 |  | (6,234) |  | 6,234 |
Other items | 6,882 |  | 15,930 |  | 8,387 |  | 13,061 |  | 2,006 |  | 11,471 |
Balance at December 31, | $ | 60,060 |  | $ | 85,311 |  | $ | 499,255 |  | $ | 499,865 |  | $ | 49,796 |  | $ | (6,214) |
Summary of unrecognized deferred tax assets |
Unrecognized deferred tax assets | 2021 |  | 2020
Tax losses | $ | 192,880 |  |  | $ | 181,667 |
Other deductible temporary differences | 85,142 |  |  | 39,394 |
| $ | 278,022 |  |  | $ | 221,061 |
Summary of unrecognized tax losses | The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
| 2021 | Expiry date |  | 2020 | Expiry date
Canadian net operating loss carryforwards | $ | 490,774 |  | 2026-2041 |  | $ | 512,102 |  | 2025-2040
Canadian capital losses | 240,081 |  | none |  | 65,836 |  | none
Greek net operating loss carryforwards | 125,401 |  | 2022-2026 |  | 140,196 |  | 2021-2025
Brazilian net operating loss carryforwards | Nil | none |  | 2,421 |  | none

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