Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Taxation (Tables)

v3.22.1
Taxation (Tables)
 12 Months Ended
Dec. 31, 2021
Major components of tax expense (income) [abstract]  
Schedule of Consolidated Statement of Profit and Loss
Recognized in the Consolidated Statement of Profit and Loss
For the Year Ended December 31,
2021 2020 2019
$’000 $’000 $’000
Current tax
Current tax on loss for the period
 801  569  (3,457)
Adjustments to tax in respect of previous periods
 31  4,070  (2,102)
Total current tax 832  4,639  (5,559)
Deferred tax
Origination and reversal of timing differences (2,306) —  — 
Total deferred tax (2,306) —  — 
Tax (benefit) provision
 (1,474) 4,639  (5,559)
Schedule of Analysis of Tax Recognized in the Consolidated Statement of Profit and Loss
Analysis of tax recognized in the Consolidated Statement of Profit and Loss
For the Year Ended December 31,
2021 2020 2019
$’000 $’000 $’000
Loss before tax
 (375,985) (183,391) (145,846)
Tax on loss on ordinary activities at standard CT rate (19.00%)
 (71,437) (34,844) (27,711)
State and local income taxes, net of federal benefit (320) —  — 
Benefit of foreign operations (218) —  — 
Deferred tax not recognized
 38,563  31,271  25,552 
Expenses not deductible for tax purposes
 33,512  4,142  187 
Non-taxable income (11,003) —  — 
Change in fair value of warrants 8,903  —  — 
Tax arising on share in associates 495  —  — 
Adjustments to tax in respect of previous periods
 31  4,070  (2,102)
All other, net —  —  (1,485)
Tax (benefit) provision
 (1,474) 4,639  (5,559)