CERTYNEX IFRS ACADEMY

Zephalon's reporting date is 31 March 20X6. A law cutting the rate from 30% to 27% for financial years beginning on or after 1 April 20X6 is debated throughout the winter; according to the case data, the rate was neither enacted nor substantively enacted at 31 March 20X6 and the law is finally enacted on 10 May 20X6, before the financial statements are authorised for issue. Which rate does Zephalon use for its taxable differences at 31 March 20X6?

27%, as the law is enacted before the financial statements are authorised for issue.

27%, because the differences will reverse after 1 April 20X6.

30%, the rate enacted at the reporting date.

No deferred tax while the rate is uncertain.