When considering the recognition of assets and liabilities for tax purposes,reference is made to the:

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When considering the recognition of assets and liabilities for tax purposes, reference is made to the tax base, which is the amount attributed to the asset or liability for tax purposes. The tax base can differ from the carrying amount (the amount recorded in the financial statements) due to differences in recognition and measurement between tax and accounting standards. Therefore, it is important to consider the tax base when recognizing assets and liabilities for tax purposes.

When Considering the Recognition of Assets and Liabilities for Tax