XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.22.2

Taxation | 12 Months Ended
--- | ---
Dec. 31, 2021
Disclosure of income tax [Abstract] |
TAXATION |
15. | TAXATION
Value added tax (“VAT”) The Company is subject to a statutory VAT of 7% for services in Thailand. The output VAT is charged to customers who receive services from the Company and the input VAT is paid when the Company purchases goods and services from its vendors. The input VAT can be offset against the output VAT. The VAT payable is presented on the statements of financial position when input VAT is less than the output VAT. A recoverable balance is presented on the balance sheets when input VAT is larger than the output VAT. Income taxes Cayman Islands The Company is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholding tax in the Cayman Islands. British Virgin Islands The Company’s subsidiary incorporated in the BVI is not subject to taxation. Singapore The Company’s subsidiary incorporated in Singapore is subject to a corporate income tax rate of 17% on Singapore taxable income. Hong Kong The Company’s subsidiary incorporated in Hong Kong is subject to a corporate income tax rate of 16.5% on Hong Kong taxable income. Thailand The Company’s subsidiary incorporated in Thailand is subject to a corporate income tax rate of 20%. Pre-tax loss, by jurisdiction, for the years ended December 31, 2021, 2020 and 2019 is as follows:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Cayman Islands |  | $ | (1,733,786 | ) |  | $ | (1,711,094 | ) |  | $ | (714,196 | )
BVI |  |  | (12,769 | ) |  |  | (12,345 | ) |  |  | (6,945 | )
Hong Kong |  |  | (588,315 | ) |  |  | (63,483 | ) |  |  | (39,828 | )
Singapore |  |  | (16,041 | ) |  |  | - |  |  |  | - |
Thailand |  |  | (3,873,611 | ) |  |  | (1,112,496 | ) |  |  | 909,519 |
|  | $ | (6,224,522 | ) |  | $ | (2,899,418 | ) |  | $ | 148,550 |
The components of the income tax provision are:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Current income tax expense |  | $ | - |  |  | $ | 261,586 |  |  | $ | - |
Deferred income tax (benefit) expense |  |  | (732,868 | ) |  |  | (18,749 | ) |  |  | 88,473 |
Total income tax (benefit) expense |  | $ | (732,868 | ) |  | $ | 242,837 |  |  | $ | 88,473 |
Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows:
|  | For the years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
(Loss) Profit before income tax expense* |  | $ | (4,068,887 | ) |  | $ | 864,207 |  |  | $ | 909,519 |
Thailand income tax statutory rate |  |  | 20 | % |  |  | 20 | % |  |  | 20 | %
Income tax at statutory tax rate |  |  | (813,777 | ) |  |  | 172,841 |  |  |  | 181,904 |
Permanent differences |  |  | 80,910 |  |  |  | 69,996 |  |  |  | (93,431 | )
Income tax (benefit) expense |  | $ | (732,868 | ) |  | $ | 242,837 |  |  | $ | 88,473 |
| * | This amount represents profit before income tax after adjustments for non-deductible and non-taxable expense items from the Thailand operating entity.
Deferred tax assets and liabilities are comprised of the following:
|  | As of December 31, |
|  | 2021 |  |  | 2020 |
Provision for employee benefits |  | $ | 1,163,826 |  |  | $ | 1,368,335 |
Net operating loss carried forward |  |  | 728,331 |  |  |  | 1,105 |
Deferred tax assets |  |  | 1,892,157 |  |  |  | 1,369,440 |
Less: |  |  |  |  |  |  |  |
Deferred tax liabilities - finance leases |  |  | (256,519 | ) |  |  | (331,094 | )
Deferred tax assets, net |  | $ | 1,635,638 |  |  | $ | 1,038,346 |

X
- References No definition available. + Details
Name: | gfai_TaxationLineItems
Namespace Prefix: | gfai_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=12&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfIncomeTaxExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration