Annual Report 2021

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 123 The United Laboratories International Holdings Limited Annual Report 2021 30. DEFERRED TAXATION The followings are the deferred tax assets (liabilities) recognised and movements thereon for the current and prior years: Accelerated accounting depreciation Unrealised profit on inventories Withholding tax on undistributed profits of the PRC subsidiaries Total RMB’000 RMB’000 RMB’000 RMB’000 At 1 January 2020 36,358 14,931 (77,803) (26,514) Credit (charge) to profit or loss for the year 16,633 10,331 (41,779) (14,815) At 31 December 2020 52,991 25,262 (119,582) (41,329) Credit (charge) to profit or loss for the year 11,509 (6,980) (52,727) (48,198) At 31 December 2021 64,500 18,282 (172,309) (89,527) The following is the analysis of the deferred tax balances for financial reporting purpose: 2021 2020 RMB’000 RMB’000 Deferred tax assets 82,782 78,253 Deferred tax liabilities (172,309) (119,582) (89,527) (41,329)