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Stephen Widberg.
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Noah098
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sir in case of unused tax losses i understand that a DT asset is created. but what i don’t understand is we assume the tax base as 0 or carrying amount as 0?
Stephen Widberg
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Multiply the loss by the tax rate (unless there are no expected future profits).
No need to write about tax bases – examiner wants to know DT Asset.
I’m not sure I’ve ever been able to reconcile it to the definition of tax base – DT assets were around a long time before the term ‘tax base’ was ever dreamt up.
Noah098
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