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Income tax expense | 12 Months Ended
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Dec. 31, 2019
Text block [abstract] |
Income tax expense |
9. | Income tax expense
| a) | Income tax expense
| (a) | Components of income tax expense:
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | NT$000 |  |  | NT$000 |  |  | NT$000 |
Current income tax: |  |  |  |  |  |  |  |  |  |  |  |
Current income tax on profits for the period |  |  | 125,376 |  |  |  | 326,057 |  |  |  | 408,788 |
Income tax on unappropriated retained earnings |  |  | 246,684 |  |  |  | 28,165 |  |  |  | 74,540 |
Prior year income tax under (over) estimation |  |  | 67,885 |  |  |  | 3,729 |  |  |  | (5,016 | )
Total current income tax |  |  | 439,945 |  |  |  | 357,951 |  |  |  | 478,312 |
Deferred income tax: |  |  |  |  |  |  |  |  |  |  |  |
Relating to origination and reversal of temporary differences |  |  | 110,542 |  |  |  | 101,441 |  |  |  | 35,367 |
Impact of change in tax rate |  |  | — |  |  |  | (2,774 | ) |  |  | — |
Total deferred income tax |  |  | 110,542 |  |  |  | 98,667 |  |  |  | 35,367 |
Income tax expense |  |  | 550,487 |  |  |  | 456,618 |  |  |  | 513,679 |
| (b) | The income tax (charge)/credit relating to components of other comprehensive income is as follows:
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | NT$000 |  |  | NT$000 |  |  | NT$000 |
Unrealized gain (loss) on valuation of financial assets at fair value through other comprehensive income |  |  | — |  |  |  | 17,005 |  |  |  | (7,016 | )
Remeasurement of defined benefit obligations |  |  | 8,642 |  |  |  | (11,992 | ) |  |  | 4,183 |
Impact of change in tax rate |  |  | — |  |  |  | (887 | ) |  |  | — |
|  |  | 8,642 |  |  |  | 4,126 |  |  |  | (2,833 | )
| b) | Reconciliation of income tax expense and the accounting profit:
|  | 2017 |  |  | 2018 |  |  | 2019 |
|  | NT$000 |  |  | NT$000 |  |  | NT$000 |
Tax calculated based on profit before tax and statutory tax rate |  |  | 566,649 |  |  |  | 356,488 |  |  |  | 606,917 |
Expenses disallowed by tax regulation |  |  | 10,185 |  |  |  | 14,689 |  |  |  | 3,055 |
Tax exempted (income) expenses by tax regulation |  |  | (256,788 | ) |  |  | 66,353 |  |  |  | (165,979 | )
Temporary differences not recognized as deferred tax assets |  |  | (85,168 | ) |  |  | (10,951 | ) |  |  | (608 | )
Prior year income tax under (over) estimation |  |  | 67,885 |  |  |  | 3,729 |  |  |  | (5,016 | )
Income tax on unappropriated retained earnings |  |  | 246,684 |  |  |  | 28,165 |  |  |  | 74,540 |
Impact of change in tax rate |  |  | — |  |  |  | (2,774 | ) |  |  | — |
Effect of different tax rates in countries in which the Group operates |  |  | 1,040 |  |  |  | 919 |  |  |  | 770 |
Income tax expense |  |  | 550,487 |  |  |  | 456,618 |  |  |  | 513,679 |
| c) | The amounts of deferred tax assets or liabilities resulting from temporary differences and investment tax credits are as follows:
|  | 2018 |
|  | January 1 |  |  | Effects on initial application of IFRS 9 and IFRS 15 |  |  | Recognized in profit or loss |  |  | Recognized in other comprehensive income |  |  | December 31 |
|  | NT$000 |  |  | NT$000 |  |  | NT$000 |  |  | NT$000 |  |  | NT$000 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on inventories |  |  | 9,132 |  |  |  | (770 | ) |  |  | (1,130 | ) |  |  | — |  |  |  | 7,232 |
Property, plant and equipment |  |  | 55,494 |  |  |  | — |  |  |  | 8,689 |  |  |  | — |  |  |  | 64,183 |
Provisions |  |  | 21,643 |  |  |  | — |  |  |  | (9,247 | ) |  |  | — |  |  |  | 12,396 |
Deferred revenue |  |  | 39,485 |  |  |  | — |  |  |  | (5,329 | ) |  |  | — |  |  |  | 34,156 |
Net defined benefit liability |  |  | 78,451 |  |  |  | — |  |  |  | 7,889 |  |  |  | 14,403 |  |  |  | 100,743 |
Unrealized exchange losses |  |  | 8,167 |  |  |  | 144 |  |  |  | (4,736 | ) |  |  | — |  |  |  | 3,575 |
Investment tax credit |  |  | — |  |  |  | — |  |  |  | 4,420 |  |  |  | — |  |  |  | 4,420 |
Others |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 11 |
Total |  |  | 212,372 |  |  |  | (626 | ) |  |  | 567 |  |  |  | 14,403 |  |  |  | 226,716 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | (174,293 | ) |  |  | — |  |  |  | (107,301 | ) |  |  | — |  |  |  | (281,594 | )
Contract assets |  |  | — |  |  |  | (8,067 | ) |  |  | 8,067 |  |  |  | — |  |  |  | — |
Financial assets at fair value through other comprehensive income |  |  | — |  |  |  | (8,636 | ) |  |  | — |  |  |  | (18,529 | ) |  |  | (27,165 | )
Total |  |  | (174,293 | ) |  |  | (16,703 | ) |  |  | (99,234 | ) |  |  | (18,529 | ) |  |  | (308,759 | )
Information presented on statements of financial position: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax assets |  |  | 212,372 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 226,716 |
Deferred tax liabilities |  |  | (174,293 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (308,759 | )
|  | 2019 |
|  | January 1 |  |  | Recognized in profit or loss |  |  | Recognized in other comprehensive income |  |  | December 31 |
|  | NT$000 |  |  | NT$000 |  |  | NT$000 |  |  | NT$000 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on inventories |  |  | 7,232 |  |  |  | 5,468 |  |  |  | — |  |  |  | 12,700 |
Property, plant and equipment |  |  | 64,183 |  |  |  | (25,515 | ) |  |  | — |  |  |  | 38,668 |
Provisions |  |  | 12,396 |  |  |  | (6,796 | ) |  |  | — |  |  |  | 5,600 |
Deferred revenue |  |  | 34,156 |  |  |  | (6,506 | ) |  |  | — |  |  |  | 27,650 |
Net defined benefit liability |  |  | 100,743 |  |  |  | (3,948 | ) |  |  | (4,183 | ) |  |  | 92,612 |
Unrealized exchange losses |  |  | 3,575 |  |  |  | 13,721 |  |  |  | — |  |  |  | 17,296 |
Investment tax credit |  |  | 4,420 |  |  |  | (4,420 | ) |  |  | — |  |  |  | — |
Others |  |  | 11 |  |  |  | 15 |  |  |  | — |  |  |  | 26 |
Total |  |  | 226,716 |  |  |  | (27,981 | ) |  |  | (4,183 | ) |  |  | 194,552 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | (281,594 | ) |  |  | (7,386 | ) |  |  | — |  |  |  | (288,980 | )
Financial assets at fair value through other comprehensive income |  |  | (27,165 | ) |  |  | — |  |  |  | 7,016 |  |  |  | (20,149 | )
Total |  |  | (308,759 | ) |  |  | (7,386 | ) |  |  | 7,016 |  |  |  | (309,129 | )
Information presented on statements of financial position |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred tax assets |  |  | 226,716 |  |  |  |  |  |  |  |  |  |  |  | 194,552 |
Deferred tax liabilities |  |  | (308,759 | ) |  |  |  |  |  |  |  |  |  |  | (309,129 | )
| d) | The Company has not recognized deductible and taxable temporary differences associated with investments as deferred tax assets and liabilities. As of December 31, 2018 and 2019, the amount of taxable temporary differences not recognized as deferred tax liability were NT$495,154 thousand and NT$180,395 thousand, respectively.
| e) | The Company’s income tax returns through 2016 have been assessed and approved by the Tax Authority.
| f) | The amendment to the Income Tax Act in ROC has been approved and promulgated in February 2018 to raise the profit-seeking enterprise income tax rate from 17% to 20%, decrease the tax rate on unappropriated retained earnings from 10% to 5%, and abandon the imputation tax credit account effective from fiscal year starting January 1, 2018.
| g) | On October 31, 2016, the Company merged with its former parent company, ChipMOS TECHNOLOGIES (Bermuda) LTD. (“ChipMOS Bermuda”) and as a result, the Company recognized its own shares originally held by former parent company as treasury stock. Subsequently, the Company deducted unappropriated retained earnings by NT$5,052,343 thousand to reflect the loss due from the cancellation of treasury stock. In January 2017, the Company has filed an application to the National Taxation Bureau of the Northern Area, Ministry of Finance to apply the accumulated deficit amount, derived from subtracting the aforementioned amount from unappropriated retained earnings generated prior to year 2015 (not including 2015 unappropriated retained earnings), as a deduction in the calculation of years 2016 and 2015 additional 10% tax on unappropriated retained earnings. On August 26, 2019, the Ministry of Finance issued Interpretation No.10804006760 and agreed the aforementioned deduction of unappropriated retained earnings to reflect the loss due from the cancellation of treasury stock as a result of the merger. As of the issue date of this report, the Company has not received the Notice for Assessment of Tax approved by the National Taxation Bureau of the Northern Area, Ministry of Finance.

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