- 39 - Unit : Million Baht Separate financial statements Other noncurrent financial assets Fixed assets Lease liabilities Derivatives Total Deferred tax liabilities As at January 1, 2020 - 524 - - 524 The effects from first-time adoption of new accounting policies to other comprehensive income 1 - - - 1 Net (charged)/credited to profit or loss - (152) 2 28 (122) Net (charged)/credited to other comprehensive income 2 - - - 2 As at December 31, 2020 3 372 2 28 405 other comprehensive income Net (charged)/credited to profit or loss - (106) (2) (28) (136) Net (charged)/credited to other comprehensive income (1) - - - (1) As at December 31, 2021 2 266 - - 268 Presentation in the statements of financial position As at December 31, 2021 Deferred tax assets - net 1,068 As at December 31, 2020 Deferred tax assets - net 2,695 Income tax Unit : Million Baht Consolidated financial statements Separate financial statements For the years ended December 31, 2021 2020 2021 2020 Income tax expense for the current period (772) (16) (719) - Deferred income tax (expense) benefit (1,579) 1,550 (1,547) 1,548 Prior year tax adjustment - 20 - 20 Income tax benefit (2,351) 1,554 (2,266) 1,568 For the years ended December 31, 2021 and 2020, the Group’s effective tax rate is not equal to the statutory tax rate of 20% under the Revenue Code because income tax expense is calculated from accounting profit adjusted by non-deductible expenses, deducted income or expense exemption under the Revenue Code and utilized the tax losses carried forward from prior years and also had the exempted net profit from the promoted business. 341 NOTES TO THE FINANCIAL STATEMENTS IRPC PUBLIC COMPANY LIMITED
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