TMBThanachart Bank Public Company Limited and its Subsidiaries (Formerly TMB Bank Public Company Limited and its Subsidiaries) Notes to the financial statements For the year ended 31 December 2021 93 Impairment testing for goodwill For the purposes of impairment testing, goodwill has been allocated to Retail Banking segment which is identified as Cash Generating Unit (CGU). The recoverable amount of goodwill is determined based on a value-in-use calculation, using discounted cash flow from business plan approved by the Board of Director covering 5 years period. The discount rate used for the computation of the net present value is reference to industry cost of capital (ke). The terminal growth rate derived from long term GDP is applied for cash flow beyond 5 years period. The Bank conducts a review at each reporting date if there is any indication for impairment of goodwill. As at 31 December 2021, the recoverable amount was greater than the carrying value of goodwill; hence, no impairment loss on goodwill was required. 20 Deferred tax and income tax 20.1 Deferred tax Deferred tax assets and liabilities presented net by entity were as follows: Consolidated Bank only 2021 2020 2021 2020 (in million Baht) Deferred tax assets 9 1,980 - 2,818 Deferred tax liabilities 922 3,501 247 - Net (913) (1,521) (247) 2,818 337 Form 56-1 One Report 2021
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