XML 79 R41.htm IDEA: XBRL DOCUMENT v2.4.0.8

4. Income taxes (Tables)

12 Months Ended

Dec. 31, 2012

Components of provision for income taxes

Profit/(loss before) income taxes/(benefit):

		2012				2011				2010
		US$’000				US$’000				US$’000
The PRC and Hong Kong			13				(1,204	)			(1,326	)

The provision for income taxes consists of:

		2012				2011				2010
		US$’000				US$’000				US$’000
Current tax expenses:
The PRC and Hong Kong			117				(46	)			233
Total current provision			117				(46	)			233
Deferred tax benefit:
The PRC and Hong Kong			25				(17	)			(79	)
Total deferred provision			25				(17	)			(79	)

Reconciling items from income tax

		2012				2011				2010
		US$’000				US$’000				US$’000
Computed tax using respective companies’ statutory tax rates			31				(263	)			(203	)
Change in valuation allowances			166				33				158
Under-provision for income tax in prior years			-				(10	)			-
Non deductible expenses			(55	)			177				199
Total provision for income tax at effective tax rate			142				(63	)			154

Components of deferred tax assets

The components of deferred tax assets are as follows:

		2012				2011
		US$’000				US$’000
Tax losses			977				811
Temporary differences			(24	)			1
Less: Valuation allowances			(691	)			(525	)
Net deferred tax assets			262				287

ZHEJIANG

Components of provision for income taxes

The provision for income taxes consists of:
		2012				2011				2010
		RMB’000				RMB’000				RMB’000
Current PRC EIT:
Domestic			3,218				8,912				4,249
Income taxes			3,218				8,912				4,249
Deferred tax benefit:			(784	)			(993	)			(1,481	)
Total deferred taxes			(784	)			(993	)			(1,481	)

Reconciling items from income tax

The principal reconciling items from income tax computed at the statutory rates and at the effective income tax rates are as follows:

		2012				2011				2010
		RMB’000				RMB’000				RMB’000
Income before income taxes			933				47,309				28,481
Computed tax using respective companies’statutory tax rates			140				7,096				4,289
Under/(over)-provision for income tax in prior years			1,358				512				(562	)
Tax effect on revenue not subject to tax			(56	)			(652	)			(1,027	)
Tax effect on expenses not deductible for tax purposes			992				963				68
Total provision for income tax at effective tax rate			2,434				7,919				2,768

Components of deferred tax assets

The components of deferred tax assets are as follows:

		2012				2011
		RMB’000				RMB’000
Tax losses			-				348
Allowance for doubtful debts			2,513				2,949
Net deferred tax assets			2,513				3,297

X

- 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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration