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Deferred Tax Assets And Deferred Tax Liabilities

12 Months Ended

Dec. 31, 2021

Text block [abstract]

Deferred tax assets and deferred tax liabilities

22	Deferred tax assets and deferred tax liabilities

Deferred income assets and liabilities of the Group are set out as follows:


		As of December 31,
		2020				2021
		RMB’000				RMB’000
Deferred tax assets			3,358,664				4,873,370
Deferred tax liabilities			(5,733,733	)			(833,694	)

Net amount			(2,375,069	)			4,039,676

Deferred assets and liabilities not taking into consideration the offsetting of balances are set out as follows:

(a)	The following table sets forth the details of deferred tax assets:


		As of December 31,
		2020				2021
		RMB’000				RMB’000
Revenue recognition - differences between accounting and tax book			—				1,635,551
Provision for asset impairments			1,368,693				986,943
Employee benefit payables			626,048				751,926
Guarantee liabilities			187,169				674,277
Accrued expenses			528,660				489,544
Deductible tax losses			581,325				194,627
Changes in fair value			52,470				140,242
Consolidation adjustments			51,959				23,581
Unexercised share-based payment			117,508				1,820
Others			47,093				38,075

			3,560,925				4,936,586

(b)	Deductible temporary differences and deductible losses that are not recognized as deferred tax assets are analyzed as follows:


		As of December 31,
		2020				2021
		RMB’000				RMB’000
Deductible temporary differences			2,869,537				2,720,263
Deductible losses			1,423,385				2,432,434

			4,292,922				5,152,697

(c)	Deductible losses that are not recognized as deferred tax assets will expire as follows:


		As of December 31,
		2020				2021
		RMB’000				RMB’000
2021			7,182				—
2022			29,333				7,433
2023			20,462				124,678
2024			27,549				365,455
2025			85,463				71,574
2026			—				169,894
No due date			1,253,396				1,693,400

			1,423,385				2,432,434

(d)	The following table sets forth the movements of the deferred tax asset:


Movements		Deductible tax losses				Provision for asset impairments				Employee benefit payables				Accrued expenses				Unexercised share-based payment				Guarantee liabilities				Advertising and business promotion fees				Revenue recognition - differences between accounting and tax book				Others (Include changes in fair value )				Total
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
As of January 1, 2019			841,114				769,748				432,919				625,986				75,801				68,479				204,749				—				286,344				3,305,140
Credited/(charged) - to profit or loss			206,120				169,491				130,648				(195,021	)			(456	)			(7,792	)			(204,190	)			—				(213,384	)			(114,584	)

As of December 31, 2019			1,047,234				939,239				563,567				430,965				75,345				60,687				559				—				72,960				3,190,556

Credited/(charged) - to profit or loss			(465,909	)			429,454				62,481				97,695				42,163				126,482				(60	)			—				78,063				370,369

As of December 31, 2020			581,325				1,368,693				626,048				528,660				117,508				187,169				499				—				151,023				3,560,925

Credited/(charged) - to profit or loss			(386,698	)			(381,750	)			125,878				(39,116	)			(115,688	)			487,108				(499	)			1,635,551				50,875				1,375,661

As of December 31, 2021			194,627				986,943				751,926				489,544				1,820				674,277				—				1,635,551				201,898				4,936,586

(e)	The following table sets forth for the details of deferred tax liabilities:


		As of December 31,
		2020				2021
		RMB’000				RMB’000
Unrealized consolidated earnings			434,850				576,472
Intangible assets arisen from business combination			452,258				211,565
Changes in fair value			20,469				77,271
Effective interest adjustment			862,035				18,045
Depreciation of property and equipment			8,398				13,557
Revenue recognition differences between accounting and tax book			4,157,984				—

			5,935,994				896,910

(f)	The following table sets forth the movements of the deferred tax liabilities:


Movements		Revenue recognition differences between accounting and tax book				Intangible assets arisen from business combination				Unrealized consolidated earnings				Effective interest adjustment				Changes in fair value				Depreciation of property and equipment				Total
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
As of January 1, 2019			2,956,906				456,281				279,653				22,757				29,650				9,990				3,755,237
Charged/(credited) - to profit or loss			1,519,928				(4,023	)			15,984				237,914				(12,694	)			(9,974	)			1,747,135

As of December 31, 2019			4,476,834				452,258				295,637				260,671				16,956				16				5,502,372

Charged/(credited) - to profit or loss			(318,850	)			—				139,213				601,364				3,513				8,382				433,622

As of December 31, 2020			4,157,984				452,258				434,850				862,035				20,469				8,398				5,935,994

Charged/(credited) - to profit or loss			(4,157,984	)			(240,693	)			141,622				(843,990	)			56,802				5,159				(5,039,084	)

As of December 31, 2021			—				211,565				576,472				18,045				77,271				13,557				896,910

(g)	The following table sets forth the net balances of deferred tax assets and liabilities after offsetting:


		As of December 31,
		2020								2021
		Offset amount				Balance after offsetting				Offset amount				Balance after offsetting
		RMB’000				RMB’000				RMB’000				RMB’000
Deferred tax assets			(202,261	)			3,358,664				(63,216	)			4,873,370

Deferred tax liabilities			202,261				(5,733,733	)			63,216				(833,694	)