CERTYNEX IFRS ACADEMY

In 20X5, Pradomir incurs a tax loss which the law (case data) allows it to carry back against its 20X4 taxable profit, with a refund of the tax paid. When does it recognise the related asset?

In 20X6, when the tax authorities actually refund the tax.

When the 20X5 return is filed, if this happens after the reporting date.

In the 20X5 financial statements, the period in which the tax loss occurs.

Never: the benefit is only disclosed in the notes until the refund.