Theorie vragen
Tax base of an asset (2)
1. the amount that will be deductible for tax purpose against taxable economic benefits
2. its carrying amount less the amount that will be deductibel for tax pruposes in respect of that liability in future periods
If those economic benefits will not be taxable the tax base of the asset is equal to ...
its carrying amount.
temporary difference definition:
temporary differences are differences between the carrying amount of an asset or liability and its tax base
Taxable temporary differences are those that will result ...
in taxable amounts.
Deductible temporary differences are those that will result in
amounts that are deductible in determining taxable profit (tax loss) of future periods, when the carrying amount of the asset or liability is recovered or settled.
There is no tax effect on goodwill, as ...
goodwill gives rise to an excluded temporary difference per IAS 12.
Temporary differences arise when
the period in which revenues and expenses are recognized for accounting purposes is different from the period in which such revenues and expenses are treated as taxable income and allowable deductions
Permanent differences (not an IFRS term) arise when
amounts recognized as part of accounting profit are not recognized as part of taxable profit (or vice versa).
Temporary difference if acrual =
Tax base - carrying amount
‘… is not taxed’ always means
no amount is deductible for tax purposes, so the tax base is always equal to its carrying amount, and temp diff is 0
‘… is taxed’ always means that
the amount is deductable for tax purposes and the de carrying amount and tax base are not equal.
The tax base is calculated as
the carrying amount less the amount that is deductible for tax purposes (the carrying amount) in future years, so the tax base is €0. And thus the temporary difference is always the same as the carrying amount.