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IAS 12 initial recognition exemption deferred tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 12 initial recognition exemption deferred tax

  • This topic has 4 replies, 2 voices, and was last updated 2 years ago by Stephen Widberg.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • October 15, 2022 at 10:20 pm #668766
    akka17bakka
    Participant
    • Topics: 105
    • Replies: 99
    • ☆☆☆

    Hello Tutor,

    Could you kindly explain this statement to me?

    ”liabilities arising from the initial recognition of an asset/liability other than in a business combination which, at the time of the transaction, does not affect either the accounting or the taxable profit and at the time of the transaction, does not give rise to equal taxable and deductible temporary differences. [IAS 12.15(b)]”

    Thank you.

    October 15, 2022 at 11:25 pm #668767
    akka17bakka
    Participant
    • Topics: 105
    • Replies: 99
    • ☆☆☆

    And one more thing please,

    Tax base of Zero and Tax base Nil, are they both same?

    Thanks.

    October 16, 2022 at 1:18 pm #668789
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    Q1. No DT at the time of the initial recognition of a lease – Right of Use asset and Lease liability
    Q2. Zero = Nil 🙂

    October 16, 2022 at 3:19 pm #668793
    akka17bakka
    Participant
    • Topics: 105
    • Replies: 99
    • ☆☆☆

    Thank you very much, Tutor. God bless.

    October 17, 2022 at 5:17 am #668927
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    🙂

  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • The topic ‘IAS 12 initial recognition exemption deferred tax’ is closed to new replies.

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