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b. Deferred tax
Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities and the
corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are generally
recognized for all deductible temporary differences, unused loss carry forward and unused tax credits for purchases of
machinery, research and development expenditures, and personnel training expenditures to the extent that it is probable
that taxable profits will be available against which those deductible temporary differences can be utilized.
Deferred tax liabilities are recognized for taxable temporary differences associated with investments in associates, except
where the Corporation can control the reversal of the temporary difference and it is probable that the temporary difference
will not reverse in the foreseeable future. Deductible temporary differences associated with such investments and interests
are only recognized to the extent that it is probable that there will be sufficient taxable profits against which to utilize the
temporary differences and they are expected to reverse in the foreseeable future.
The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that
it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. A
previously unrecognized deferred tax asset is also reviewed at the end of each reporting period and recognized to the
extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability
is settled or the asset realized, based on tax rates and laws that have been enacted or substantively enacted by the end
of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would
follow from the manner in which the Corporation expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.
c. Current and deferred taxes for the year
Current and deferred taxes are recognized in profit or loss, expect when they relate to items that are recognized in other
comprehensive income or directly in equity, in which case, the current and deferred taxes are also recognized in other
comprehensive income or directly in equity, respectively.
INVESTMENTS ACCOUNTED FOR USINGTHE EQUITY METHOD
December 31, 2015 and 2014
(In Thousands of New Taiwan Dollars)
Investments in associates
Unlisted companies
China American Petrochemical Co., Ltd.
-CPC owned 38.64% equity
Kuo Kuang Power Company Ltd.
-CPC owned 45% equity
Faraway Maritime Shipping Corp.
-CPC owned 40% equity
NiMiC Ship Holding Co., Ltd.
-CPC owned 45% equity
Taiwan Advanced Material Corporation
-CPC owned 49% equity
Chun Pin Enterprise Co., Ltd.
-CPC owned 49% equity
Global Energy Maritime Co., Ltd.
-CPC owned 48% equity
CPC Shell Lubricants Company Ltd.
-CPC owned 49% equity
Daihai Petrol Corporation.
-CPC owned 35% equity
NiMiC Ship Management Co., Ltd.
-CPC owned 45% equity
Kuokuang Petrochemical Technology Co., Ltd.
-CPC owned 43% equity
Taiwan-Japan Oxo Chemical Industries Inc.
-CPC owned 47% equity
2015
2014
$ 1,739,242
2,755,336
2,115,021
2,097,051
652,510
356,290
1,791,307
79,965
125,423
41,434
19,953
140,252
$ 11,913,784
$ 2,353,380
2,753,037
2,079,181
1,686,579
697,283
365,055
876,080
269,300
117,923
32,573
19,882
0
$ 11,250,273
54 CPC 2016