Deferred tax - A Chief Financial Officer's guide to avoiding the pitfalls
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Sample Financial Statements
The Sample Financial Statements were prepared to assist clients in preparing their own financial statement.
Doing Business in Singapore
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This guide has been prepared to provide information to assist you in establishing a presence in Singapore.
It does not cover the subject exhaustively but is intended to answer some important, broad questions that may arise.
IFRS News Special Edition
Preparation of financial statements under International Financial Reporting Standards (IFRS) requires the application of IAS 12. IAS 12 is not new. However for many finance executives, the concepts underlying the computation of deferred tax are not intuitive. IAS 12 takes a mechanistic approach to the computation but also requires significant judgment in some areas. Also applying the concepts of IAS 12 requires a thorough knowledge of the relevant tax laws. For all these reasons, many find the calculation of a deferred tax provision under IAS 12 problematic.
We are pleased to share with you 'Deferred tax - A Chief Financial Officer's guide to avoiding pitfalls', a publication by the IFRS team at Grant Thornton International Ltd.
The guide summarises IAS 12's approach to calculating the deferred tax provision in order to help CFOs prioritise and identify key issues. It also includes interpretational guidance in certain problematic areas of deferred tax calculation.
The sections on avoiding the pitfalls will assist in understanding potential problem areas in order to know when to consult further.
Deferred tax - A Chief Financial Officer's guide to avoiding the pitfalls
