Flolbix has taxable temporary differences of 2,000,000 at 31 December; its deferred tax liability is measured at the 25 % rate applicable at the reporting date (case data). In February, a rate of 28 % is announced. What liability should be kept at the reporting date and what effect disclosed?
- Taxable temporary differences
- 2,000,000
- Rate applicable at the reporting date
- 25 %
- Rate announced in February
- 28 %