Deferred tax on revaluation

An upward revaluation may create or increase a taxable temporary difference when tax law does not increase the tax base correspondingly. Measure the deferred tax using the relevant tax rate and recognise it in the same location as the underlying transaction, generally OCI for the portion of a revaluation credited to OCI. Check tax effects, exceptions and earlier revaluation movements; a revaluation does not always produce the same result.