Unless a company has a legal right of set-off, IAS 12 Income Taxes, requires disclosure of all of the following information for deferred tax statement of financial position items:
I The amount of deferred tax assets recognised.
II The amount of the deferred tax liabilities recognised.
III The net amount of the deferred tax assets and liabilities recognised.
IV The amount of the deferred tax asset relating to tax losses.

Question

Quizplus · Accepted Answer

IAS 12 requires disclosure of the amount of deferred tax assets and liabilities recognized, as well as the amount of deferred tax assets related to tax losses. The net amount is not required unless there is a legal right of set-off.

Unless a Company Has a Legal Right of Set-Off, IAS