KBS Fashion Group Ltd | CIK:0001546383 | 3

  • Filed: 4/30/2018
  • Entity registrant name: KBS Fashion Group Ltd (CIK: 0001546383)
  • Generator: Ez-XBRL
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1546383/000121390018005204/0001213900-18-005204-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1546383/000121390018005204/kbsf-20171231.xml
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  • ifrs-full:DisclosureOfCostOfSalesExplanatory

    9.COST OF SALES

     

    Cost of sales comprises of purchasing materials, labor costs for personnel employed in production, depreciation of non-current assets used for production purpose, outsourced manufacturing cost, taxes and surcharges, and water and electricity. The following table shows a breakdown of cost of sales for the periods presented for each category:

     

       Year ended December 31, 
       2017  2016  2015 
     Changes in inventories of finished goods and work in progress  227,132   (302,979)  64,814 
     Materials consumed in production  41,057   120,847   183,831 
     Purchases of finished goods  33,877,598   36,567,197   44,786,912 
     Labor  602,196   1,313,120   787,472 
     Depreciation  370,858   236,578   252,055 
     Rental  -   -   23,184 
     Outsourced manufacturing cost  -   -   - 
     Taxes and surcharges *  157,314   253,039   212,516 
     Water and electricity  52,796   48,557   55,522 
     Inventory provision  8   320   342 
     Others  120,886   238,562   197,778 
     Foreign currency translation difference  (175,493)  566,691   (53,152)
        35,274,352   39,041,932   46,511,274 

     

    *Tax and surcharges are mainly Urban Maintenance and Construction Tax (7% of Valued Added Tax payment amount), Extra Charges of Education Fund (3% of Valued Added Tax payment amount) and Local Surcharge for Education Fund (2% of Valued Added Tax payment amount).