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Income Tax (Tables)
12 Months Ended
Dec. 31, 2022
Major components of tax expense (income) [abstract]  
Summary of Tax Charges
202220212020
US$’000US$’000US$’000
Current – United States of America224 211 (4,548)
Current – Elsewhere401 416 383 
Deferred (note 22)— (4,241)(37,747)
Total tax charge/(credit) for the year625 (3,614)(41,912)
Summary of Reconciliation of Tax Expense Applicable to Loss Before Tax at the Statutory Rates
A reconciliation of the tax charge/(credit) applicable to loss before tax at the statutory rates for the countries (or jurisdictions) in which the Company and the majority of its subsidiaries are domiciled to the tax expense/(credit) at the effective tax rates is as follows:
202220212020
US$’000%US$’000%US$’000%
Loss before tax(445,724)(407,196)(308,285)
At the statutory blended US federal and state income tax rate of 28.1% (2021 and 2020: 28.1%)
(125,293)28.1 (114,463)28.1 (86,659)28.1 
Effect of tax rate differences in other countries and regions15,129 (3.4)15,027 (3.7)35,062 (11.4)
Research and development credit(24,970)5.6 (954)0.2 (15,643)5.1 
State rate change(107)— — — — — 
Effect of non-deductible expenses1,829 (0.4)2,298 (0.6)383 (0.1)
Tax losses and deductible temporary differences not recognized131,194 (29.4)102,481 (25.2)26,040 (8.4)
Option income tax benefit2,668 (0.6)(9,532)2.3 (442)0.1 
Prior year true up— — — — — — 
Uncertain tax positions— — — — — — 
Withholding tax on interest— — — — — — 
Others175 — 1,529 (0.4)(653)0.2 
Tax charge/(benefit) at the Company’s effective rate625 (0.1)(3,614)0.9 (41,912)13.6