CERTYNEX IFRS ACADEMY

Why does IAS 12 require the deferred tax asset and liability of the same taxable entity, relating to the same authority, to be offset when current tax can be set off, without requiring a schedule?

To reduce total assets, a presentation goal pursued by the standard.

To avoid a detailed schedule of the reversal of each temporary difference.

Because the deferred taxes of a single entity always reverse in the same year.

Because discounting deferred taxes requires a single net position.