Hi Sir, May I know whether the CA and the tax base of the net investment in its subsidiary will be the same ? any temporary difference will arise from retranslating from subsidiary’s functional currency to presentation currency? or the temporary difference will only arise for foreign currency transaction?
XD on retranslation of sub from FC to PC – not a TD (I think) but it may be some time before I remember why! Never seen it in practice. I will repost if I remember (or find out more).
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