Deferred income tax

12 Months Ended

Dec. 31, 2018

Disclosure of deferred income tax [Abstract]

Disclosure of deferred taxes [text block]

Note

18 Deferred income tax

The gross movement on the deferred income tax account is as follows:

Amounts in US$ '000	2018			2017
Deferred tax at 1 January		25,350			20,283
Currency translation differences		(3,574	)		(237	)
Income statement (charge) credit		(4,784	)		5,304
Deferred tax at 31 December		16,992			25,350

The breakdown and movement of deferred tax assets and liabilities as of 31 December 2018 and 2017 are as follows:

Amounts in US$ '000	At the beginning of year		(Charged) Credited to net profit			Currency translation differences			Reclassification			At the end of year
Deferred tax assets
Difference in depreciation rates and other		16,171		(16,383	)		(1,897	)		(968	)		(3,077	)
Taxable losses		11,465		4,869			(1,677	)		20,213			34,870
Total 2018		27,636		(11,514	)		(3,574	)		19,245			31,793
Total 2017		23,053		4,820			(237	)		-			27,636

Amounts in US$ '000	At the beginning of year			Credited (Charged) to net profit		Reclassification			At the end of year
Deferred tax liabilities
Difference in depreciation rates and other		(20,074	)		4,305		968			(14,801	)
Taxable losses		17,788			2,425		(20,213	)		-
Total 2018		(2,286	)		6,730		(19,245	)		(14,801	)
Total 2017		(2,770	)		484		-			(2,286	)