Annual Report 2021

ANNUAL REPORT 2021 169 35. DEFERRED TAXATION (CONTINUED) The movements in deferred tax assets and liabilities during the year are as follows: Deferred tax liabilities Withholding tax relating Accelerated tax Fair value gains to unremitted earnings depreciation allowance and others Total 2021 2020 2021 2020 2021 2020 2021 2020 HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million As at 1 January (1,836) (1,516) (1,909) (1,578) (737) (574) (4,482) (3,668) Exchange adjustments (56) (100) 9 48 (19) (29) (66) (81) Obtaining control of a non-wholly owned subsidiary (note 39) — — — (485) — — — (485) (Charged)/credited to profit or loss (278) (220) 37 106 (42) (134) (283) (248) Charged to other comprehensive income — — — — (20) — (20) — As at 31 December (2,170) (1,836) (1,863) (1,909) (818) (737) (4,851) (4,482) Deferred tax assets Provision Others Total 2021 2020 2021 2020 2021 2020 HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million As at 1 January 12 20 408 240 420 260 Exchange adjustments — — 1 (2) 1 (2) Credited/(charged) to profit or loss 14 (8) (41) 170 (27) 162 As at 31 December 26 12 368 408 394 420 As at 31 December 2021, the Group has deductible temporary difference of HK$766 million (2020: HK$180 million). No deferred tax asset has been recognised in relation to such deductible temporary difference as it is not probable that taxable profit will be available against which the deductible temporary difference can be utilised.