Page 247 - DJML Annual Report 24-25

DJ MEDIAPRINT & LOGISTICS LIMITED

Notes to the Consolidated Financial Statement March 31, 2025

Tax charges and credits attributable to exchange realised or the deferred tax liability is settled.
differences on those monetary items are also Deferred tax assets are recognised for all
recorded in OCI.
deductible temporary differences and unused
Non-monetary items that are measured in terms of tax losses only if it is probable that future
historical cost in a foreign currency are translated taxable amounts will be available to utilise
using the exchange rates at the dates of the initial those temporary differences.
transactions. Non-monetary items measured at fair d) Deferred tax assets and deferred tax liabilities
value in a foreign currency are translated using the are offset if a legally enforceable right exists
exchange rates at the date when the fair value is to set off current tax assets against current
determined. The gain or loss arising on translation tax liabilities and the deferred taxes relate to
of non-monetary items measured at fair value is the same taxable entity and the same taxation
treated in line with the recognition of the gain or authority.
loss on the change in fair value of the item (i.e.,
translation differences on items whose fair value
ga or lo recognised OCI or profi or lo are The Group accounts for its business combinations
also recognised OCI or Stateme of Profi and under acquisition method of accounting. Acquisition
Loss, respectively). related costs are recognised in the consolidated
stateme of profi and lo a incurred. The
acquiree’ identifiable assets,liabilitie and
a) Current income tax assets and liabilities contingent liabilities that meet the condition for
are measured at the amount expected to recognition are recognised at their fair values at the
be recovered from or paid to the taxation acquisition date.
authorities. The tax rates and tax laws used to
compute the amount are those that are enacted Purchase consideration paid in excess of the
or substantively enacted, at the reporting date fair value of net assets acquired is recognised as
in the countries where the Group operates and goodwill. Where the fair value of identifiable asse
generates taxable income. and liabilities exceed the cost of acquisition, after
reassessing the fair values of the net assets and
b) Current income tax relating to items recognised contingent liabilities, the excess is recognised as
outside Statement of Profit and Loss is
recognised outside Statement of Profit and capital reserve.
Loss (either in other comprehensive income The interest of non-controlling shareholders is
or in equity). Current tax items are recognised initially measured either at fair value or at the non-
in correlation to the underlying transaction controlling interests’ proportionate share of the
either in OCI or directly in equity. Management acquiree’ identifiable ne assets. The choice of
periodically evaluates positions taken in the measurement basis is made on an acquisition-
tax returns with respect to situations in which by-acquisition basis. Subsequent to acquisition,
applicable tax regulations are subject to the carrying amount of non-controlling interests is
interpretation and establishes provisions where the amount of those interests at initial recognition
appropriate. plus the noncontrolling interests’ share of
subsequent changes in equity of subsidiaries.
c) Deferred tax is provided using the liability method Business combinations arising from transfers of
on temporary differences arising between interests in entities that are under common control
the tax base of assets and liabilities and their are accounted at historical cost. The difference
carrying amo the financia statements. between any consideration given and the aggregate
Deferred tax is determined using tax rates that historical carrying amounts of assets and liabilities
have been enacted or substantially enacted by of the acquired entity is recorded in shareholders’
the end of the reporting period and are expected equity.
to apply when the related deferred tax asset is

244 Annual Report 2024-25