IAS 34Chapter 5Lesson 2
Revising the estimated tax rate and understanding its components
Step 1 of 7Learning objectives
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A revision of the estimated annual effective rate is adjusted in the period in which it occurs, without restating published reports; the rate reflects expected progressive bands, enacted rate changes and, where practicable, jurisdictions.
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Learning objectives
- Calculate the adjustment when the estimated annual rate is revised (cumulative figure at the new rate - already recognised).
- Record the adjustment in the revision period, without changing published periods.
- Analyse what the estimated rate reflects: progressive bands, enacted rate changes, jurisdictions.