Even though some international investments had negative performance in 2014, they still reported corporate income taxes expenses as elaborated below;
• In Malaysia, our subsidiaries had a reversal of Deferred Tax Assets on loss carried forward.
• In France, there is an annual local tax called “CVAE” standing for Cotisation sur la Valeur Ajoutée des Entreprises which is levied on gross margin.
• In the USA, we have engaged in various entities which reported total negative operating results for the year 2014. In particular, some companies generated losses while some contributed profits. Hence, those profit generating entities obligated to pay taxes.