Deferred Tax – A Chief Financial Officer’s Guide to Avoiding the Pitfalls

Preparation of financial statements under IFRSs requires the application of IAS 12 ‘Income Taxes’. Income taxes, as defined in IAS 12, include current tax and deferred tax. For many finance executives the concepts underlying deferred tax are not intuitive.
This Grant Thornton guide addresses IAS 12’s key application issues related to deferred taxes and includes interpretational guidance in certain problematic areas.
  • Calculating a deferred tax balance


  • Allocating the deferred tax charge or credit


  • Avoiding pitfalls – the manner of recovery and the blended rate


  • Avoiding pitfalls – business combinations and consolidated accounts


  • Avoiding pitfalls – share-based payments


  • Avoiding pitfalls – recognition of deferred tax assets 



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