PRIME ACQUISITION CORP | CIK:0001485922 | 3

  • Filed: 5/2/2018
  • Entity registrant name: PRIME ACQUISITION CORP (CIK: 0001485922)
  • Generator: Novaworks Software
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1485922/000168316818001159/0001683168-18-001159-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1485922/000168316818001159/pacqf-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0001485922
  • Open this page in separate window: Click
  • ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory

        2017     2016*     2015*  
    Profit/(loss) before tax from continuing operations   $ (2,758,561 )   $ (427,636 )   $ (5,969,746 )
                             
    Income tax expense/(benefit) calculated at 27.9%, 31.4% and 31.4% for the year ended December 31, 2017, 2016 and 2015 respectively   $ (769,639 )   $ (134,278 )   $ (1,874,501 )
    Effect of (income)/expenses that are exempt from taxation           9,795       965,868  
    Effect of expenses that are not deductible in determining taxable profit     235,350       180,042       460,519  
    Effect of unused tax losses and tax offsets not recognized as deferred tax assets     746,964       136,125       836,295  
    Effect of previously unrecognized and unused tax losses and deductible temporary differences now recognized as deferred tax assets     (28,760 )     (34,200 )     (34,904 )
    Effect of new tax rule in fiscal unit **     6,614       (48,284 )     (148,834 )
    Effect of prior year taxes     (14,227     6,663       (12,664 )
    Effect of future change of fiscal aliquota*** on deferred taxes (previous years)           (261,115 )      
    Effect of future change of fiscal aliquota on deferred taxes (generated in 2016)           18,258        
    Others     (1,796)       39,054       (47,886
    Income tax expense/(benefit) recognized in profit or loss relating to continuing operations (current & deferred)   $ 174,506     $ (87,939 )   $ 143,893