Question · Enacted or substantively enacted rates

Velmoriac's reporting date is 31 December 20X5. A law lowering the tax rate from 20X6 is enacted on 20 January 20X6, before the financial statements are authorised for issue; it was neither enacted nor substantively enacted at 31 December. Velmoriac must measure its deferred tax liability at 31 December 20X5 at the new rate.