Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 136

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 136
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 when the shareholders’
right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the
Company and the amount of the dividend can be measured reliably.

Borrowing costs

Borrowing costs directly attributable to the acquisition,
construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for
their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended
use or sale.

All other borrowing costs are recognized in profit
or loss in the period in which they are incurred.

Retirement benefit costs

Pursuant to the relevant regulations of the PRC
government, the Group’s subsidiaries located in the PRC participate in a local municipal government retirement benefits scheme (the
“ Scheme”), whereby they contribute a prescribed percentage of the basic salaries of their employees to the Scheme to fund
their retirement benefits. Once the Scheme has been funded via contributions by the Group’s participating subsidiaries, the local
municipal government takes responsibility for the retirement benefits obligations of all existing and future retired employees of those
subsidiaries located in the PRC; accordingly, the only obligation of the Group with respect to the Scheme is to pay the on-going required
contributions as long as the employees maintain employment with the Group. There are no provisions under the Scheme whereby forfeited
contributions may be used to reduce future contributions. These plans are considered defined contribution plans. The Group has no legal
or constructive obligations to pay further contributions after its payment of the fixed contributions into the pension schemes. Contributions
to pension schemes are recognized as an expense in the period in which the related service is performed.

Taxation

The tax expense for the period comprises current
and deferred tax. Tax is recognized in the income statement, except to the extent that it relates to items recognized in other comprehensive
income or directly in equity. In this case the tax is also recognized in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated on
the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Group operates and generates
taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation
is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred tax is recognized on temporary differences
between the carrying amounts of assets and liabilities