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for deferred tax, i notice tax base of asset and liability must be larger than carrying value.
at the same time there must be sufficient taxable profit in the future.
That means those 2 criteria must be present or just 1 among those two will do ?
1. What you way say is imprecise – there is a taxable difference if carrying amount differs from tax base. If carrying amount of an asset is greater than its tax base the difference is taxable. If carrying amount is less than its tax base the difference is deductible.
Please see here for assumed knowledge https://www.accaglobal.com/sg/en/student/exam-support-resources/fundamentals-exams-study-resources/f7/technical-articles/deferred-tax.html2. The 2nd criteria applies only to a deferred tax asset. In the simplest of terms, a deferred tax asset arises if the company has been making losses – the asset will only be realised in future if there are profits against which to offset brought forward losses (according to national tax legislation).
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