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IAS 12 Income Taxes

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 12 Income Taxes

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by P2-D2.
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  • Author
    Posts
  • January 15, 2019 at 11:37 pm #502159
    gangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Sir i have two questions as follows:

    1) Deferred tax on fair value adjustments following a business combination, how are these accounted for sir?

    2) Assets/liabilities that are revalued for the purposes on an acquisition, why aren’t the tax bases affected?

    January 21, 2019 at 8:58 pm #502937
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6440
    • ☆☆☆☆☆

    Hi,

    You only need to be aware of the deferred tax adjustments on the PURP, which is covered in the notes/videos.

    The tax bases are not adjusted as the tax authorities have no evidence to be able to adjust their values.

    Thanks

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