GRUPO TMM SAB | CIK:0001163560 | 3

  • Filed: 5/7/2018
  • Entity registrant name: GRUPO TMM SAB (CIK: 0001163560)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1163560/000114036118021937/0001140361-18-021937-index.htm
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    • ifrs-full:DisclosureOfIncomeTaxExplanatory

    24
    Income tax and tax loss carryforwards
     
    Income Tax
    Results for the year
    Grupo TMM and Subsidiaries incurred combined tax losses for the years ended December 2017 and 2016, in the amounts of $432,139 and $110,668, respectively. Most of the companies that generated taxable income fully offset them against tax losses from prior years. Income tax recognized in profit or loss corresponds to subsidiaries that generated taxable income of $10,000 and $11,443, respectively.
     
    The difference between taxable and book income is due primarily to the net effect of the gain or loss on inflation recognized for tax purposes, the difference between tax and book amortization and depreciation, non-deductible expenses, gain from loss of control of subsidiary, as well as certain temporary differences reported in different periods for financial and tax purposes.
     
    In accordance with the currently enacted Income Tax Law, the rate for 2015, 2016, 2017, and subsequent years is 30%.
     
    The provision for income tax recognized in the statement of profit or loss for the years ended December 31, 2017, 2016 and 2015 is shown following:
     
      
    2017
    		  
    2016
    		  
    2015
    		 
    Income tax
    		 
    $
    (3,000
    )
    		 
    $
    (3,433
    )
    		 
    $
    (3,314
    )
    Deferred income tax
    		  
    (513,732
    )
    		  
    272,048
    		   
    (695,161
    )
    Total income tax (benefit) expense
    		 
    $
    (516,732
    )
    		 
    $
    268,615
    		  
    $
    (698,475
    )
     
    The reconciliation between the provision for income tax based on the statutory income tax rate and the provision recorded by the Company at December 31, 2017, 2016 and 2015 is as follows:
     
      
    2017
    		  
    2016
    		  
    2015
    		 
    Profit (loss) before taxes
    		 
    $
    1,846,311
    		  
    $
    (775,179
    )
    		 
    $
    (301,930
    )
    Income tax
    		  
    (553,893
    )
    		  
    232,554
    		   
    90,579
    		 
    (Decrease) increase from:
    		            
    Difference in depreciation and amortization
    		  
    503,479
    		   
    48,701
    		   
    (232,397
    )
    Revaluation surplus
    		  
    265,723
    		   
    132,019
    		   
    320,467
    		 
    Income recognized in advance
    		  
    (1,678
    )
    		  
    (8,261
    )
    		  
    (11,409
    )
    Materials and supplies
    		  
    5,503
    		   
    (15,673
    )
    		  
    (14,497
    )
    Inflationary and currency exchange effects on monetary assets and liabilities, net
    		  
    (203,983
    )
    		  
    (102,928
    )
    		  
    (87,765
    )
    Tax losses – net
    		  
    (1,255,433
    )
    		  
    116,906
    		   
    (498,884
    )
    Provisions and allowance for doubtful accounts
    		  
    (183,963
    )
    		  
    (63,803
    )
    		  
    (143,685
    )
    Difference between the tax and book value for the sale of assets
    		  
    (435
    )
    		  
    (60,277
    )
    		  
    (49,084
    )
    Difference between the tax and book value for the sale of shares
    		  
    956,613
    		   
    20,136
    		   
    7,902
    		 
    Non-deductible expenses
    		  
    (48,665
    )
    		  
    (30,759
    )
    		  
    (79,702
    )
    Provision for income tax
    		 
    $
    (516,732
    )
    		 
    $
    268,615
    		  
    $
    (698,475
    )
     
    The components of deferred tax liability at December 31, 2017 and 2016 are comprised as follows:
     
      
    2017
    		  
    2016
    		 
    Portion of tax loss carryforwards for subsequent years
    		 
    $
    (279,334
    )
    		 
    $
    1,543,387
    		 
    Inventories and provisions – net
    		  
    65,091
    		   
    40,964
    		 
    Concession rights and property, vessels and equipment
    		  
    (619,651
    )
    		  
    (1,662,402
    )
    Total deferred tax liability
    		 
    $
    (275,226
    )
    		 
    $
    (78,051
    )
     
    Tax loss carryforwards
    At December 31, 2017, Grupo TMM and its subsidiaries, report the following cumulative tax losses, which are restated applying the INPC factors according to Mexican law.
     
    Year in which the
    loss was incurrred
    		 
    Amounts
    		  
    Year of expiration
    		 
           
    2008
    		 
    $
    109,685
    		   
    2018
    		 
    2009
    		  
    389,543
    		   
    2019
    		 
    2010
    		  
    537,231
    		   
    2020
    		 
    2011
    		  
    352,239
    		   
    2021
    		 
    2012
    		  
    538,601
    		   
    2022
    		 
    2013
    		  
    389,355
    		   
    2023
    		 
    2014
    		  
    244,640
    		   
    2024
    		 
    2015
    		  
    151,575
    		   
    2025
    		 
    2016
    		  
    488,472
    		   
    2026
    		 
    2017
    		  
    108,450
    		   
    2027
    		 
      
    $
    3,309,791