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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Taxes |
Schedule of composition of income tax expenses |
|  | For the year ended December 31, |
|  | 2017 |  | 2018 |  | 2019 |
|  | RMB’000 |  | RMB’000 |  | RMB’000 |
Current income tax expense |  | 3,963 |  | 15,079 |  | 22,978 |
Deferred taxation |  | (54) |  | (252) |  | (3,085) |
Total |  | 3,909 |  | 14,827 |  | 19,893 |
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate |
|  | For the year ended December 31,
|  | 2017 |  | 2018 |  | 2019
|  | % |  | % |  | %
Statutory EIT rate |  | 25.00 |  | 25.00 |  | 25.00
Effect of non‑deductible expenses(1) |  | 16.59 |  | 3.28 |  | (386.74)
Tax incentives for research and development expense(2) |  | (6.93) |  | (7.35) |  | 111.56
Tax incentives for wages of disabled staff |  | (1.56) |  | (0.36) |  | 9.89
Change in valuation allowance |  | — |  | 5.82 |  | (154.03)
Non-taxable item(3) |  | — |  | — |  | 47.58
Tax rate difference from statutory rate in other jurisdictions |  | — |  | 0.40 |  | 7.45
Others |  | (0.06) |  | — |  | 8.72
Effective income tax rate |  | 33.04 |  | 26.79 |  | (330.57)
| (1) |  | It is mainly comprised of share‑based compensation expenses which are permanent differences.
| (2) |  | According to policies promulgated by the State Tax Bureau of the PRC, certain of the Group’s subsidiaries are entitled to tax incentives for research and development expenses at 150% of tax‑deductible research and development expenses in 2017 and 175% of tax‑deductible research and development expenses in 2018 and 2019.
| (3) |  | It is due to the disposal gain arising from the disposal of 36Kr Global Holding.
Schedule of composition of deferred tax assets |
|  | December 31, |  | December 31,
|  | 2018 |  | 2019
|  | RMB’000 |  | RMB’000
Deferred tax assets - non‑current: |  |  |  |
—Net operating tax losses carry forwards |  | 3,231 |  | 9,440
—Rental fee adjustment for rent free period |  | 621 |  | 584
—Allowances of doubtful accounts |  | 643 |  | 3,144
Total deferred tax assets |  | 4,495 |  | 13,168
Deferred tax liabilities - non‑current: |  |  |  |
—Change in fair value of short‑term investments |  | (958) |  | (147)
Total deferred tax liabilities |  | (958) |  | (147)
Subtotal |  | 3,537 |  | 13,021
Less: valuation allowance |  | (3,231) |  | (9,630)
Total deferred tax assets, net |  | 306 |  | 3,391

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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