Annual report pursuant to Section 13 and 15(d)

9. Deferred Tax Assets (Tables)

v3.19.2
9. Deferred Tax Assets (Tables)
12 Months Ended
Mar. 31, 2019
Deferred Tax Assets, Net [Abstract]  
Deferred tax assets and liabilities

    March 31, 2019   March 31, 2018 (Recast)
         
Deferred tax assets:        
Tax losses carryforward   $ 2,376   $ 3,050
Revaluation on trading securities   2,095   88
Accrued liabilities   35   49
Stock compensation expenses   -   405
Valuation allowance   (3,241)   (2,433)
Deferred tax assets   $ 1,265   $ 1,159
         
Deferred tax liabilities:        
Revaluation on trading securities   $ -   $  387
     
Deferred tax liabilities   $ -   $  387
         
Net deferred tax assets   $1,265   $ 772

Schedule of income tax expense/benefit

   

Year ended

March 31, 2019

  Year ended March 31, 2018 (Recast)
         
Profit before tax at 21% and 34%   $ 1,788   $ 6,329
Nontaxable gains   (3,811)   (7,129)
Provision for impairment losses   386   81
Impact of Tax Reform   -   190
Foreign tax rate differential   (1,211)   30
Other differences   418   439
Permanent differences   430   -
Global Intangible Low Taxed Income   573   -
Stock based compensations   309   -
Losses carried forward adjustment   1,678   -
Valuation allowance   808   478
Income tax provision   $ 1,368   $ 418

 

   

Year ended

March 31, 2019

  Year ended March 31, 2018 (Recast)
Current income tax charge   $ 1,817   $ 131
Deferred income tax charge/(benefit)   (449)   287
Income tax provision  

 

$ 1,368

 

 

$ 418