Message # 13 The Minister Of Finance Dated 22 June 2010 On The Announcement Of The Resolution Of The Committee Of The Accounting Standards Board On Adoption Of Revised National Accounting Standard No 2 "income Tax"

Original Language Title: KOMUNIKAT NR 13 MINISTRA FINANSÓW z dnia 22 czerwca 2010 r. w sprawie ogłoszenia uchwały Komitetu Standardów Rachunkowości w sprawie przyjęcia znowelizowanego krajowego standardu rachunkowości nr 2 "Podatek dochodowy"

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Announces the resolution No. 7/10 of the national accounting standard of 20 April 2010 on the adoption of a revised national accounting standard no 2 "income tax", annexed to the communication.



The Minister of finance in the Elizabeth Suchocka-Roguska annex 1. [Resolution No. 7/10 of the Committee of the accounting standards of 20 April 2010 on the adoption of a revised national accounting standard no 2 "income tax"]

Annex to the communication No 13 the Minister of Finance dated 22 June 2010 (item 31) resolution No. 7/10 of the Committee of the accounting standards of 20 April 2010.

on the adoption of a revised national accounting standard no 2 "income tax" on the basis of § 6 para. 2. § 2 paragraph 1 of the regulation of the Minister of Finance of 28 November 2001 on the scope and manner of Organization Committee of the accounting standards Board (Journal of laws No. 140, item 1580, as amended) shall adopt the following: § 1.

1. the Committee shall adopt the amendment to the national accounting standard no 2 "income tax", annexed to this resolution.

2. Standard referred to in paragraph 1. 1, shall enter into force on the date of the notice in the official journal of the Ministry of finance.

3. Is repealed resolution No. 5/04 Accounting Standards Committee of 14 September 2004 on the acceptance of the national accounting standard no 2 "income tax".

§ 2.

The resolution shall enter into force on the date.

The Secretary of the Committee Chair of the accounting standards Committee Dorota Będziak Joanna Dadacz National Accounting Standard No 2 "income tax" table of contents: i. purpose and scope of application of the standard of 174 II.

The definitions of the 175 III.

The tax base of the asset. Determination of temporary differences between the carrying amount and the tax base of assets 177 IV.

The tax base of the liability. Determination of temporary differences between the carrying amount and the tax liabilities of 182 V.

The tax base of the items not included in the assets and liabilities. Determination of temporary differences relating to these items. Tax loss possible to deduct from the income in the future. Unused tax credits 185 VI.

The tax value of assets and liabilities in the leasing agreements 186 VII.

Recognition of liabilities and income tax receivables 190 VIII.

Creation of deferred income tax 190 IX.

Determination of deferred tax assets income 192 X.

Valuation of receivables and liabilities income tax 194 XI.

The valuation of assets and of deferred tax deferred 194 XII.

Positions directly to increase or reduce its equity. Recognition of cost or revenue from income tax 206 13TH.

211 investment bonuses.

Offsetting receivables and liabilities from income tax and assets and of deferred income tax of 214.

The connection. The acquisition of the entity or its organized part of the 217.

Consolidated financial statements for corporate groups. The valuation of shares in units subordinated in its separate financial statements 217 XVII.

Presentation in the financial statements (individual and consolidated) 229 18TH.

Disclosure of information relating to income tax (in the separate and consolidated financial statements 230 19TH.

Interim financial statements (individual and consolidated) 233 Annex and the procedures applicable to the recognition and valuation of assets and liabilities deferred tax liabilities 234 Appendix b. Example application procedures, referred to in Annex A I 235. purpose and scope of application 1.1. The purpose of this National accounting standard (hereinafter referred to as the Standard) is the term – in adaptation to the provisions of the Act of 29 September 1994 on accounting (OJ of 2009 # 152, item 1223, as amended), hereinafter referred to as the accounting Act-rules of recognition, measurement and presentation of receivables and liabilities from income tax and assets and of deferred income tax which a taxable person is jednostka1, and the principles of disclosure of information concerning them in the financial statements. The provisions of the standard does not apply to natural persons, accounts and preparing financial statements in accordance with accounting Act and other units if they are not taxable income tax on economic activities. In the case of consolidated financial statements the provisions of the standard respectively shall apply to the parent undertaking, subsidiaries and dependent undertakings included in the consolidation, regardless of whether they (or some of them) are the tax base holding company, or are individually taxed income tax.

1.2. for the purposes of the standard, the term "tax on income" includes income taxes applicable on the territory of the Republic of Poland (it is a tax on income of legal persons) and outside that territory.

1.3. the recognition and measurement of assets and liabilities (reserves) income tax and deferred income tax requires knowledge of the relevant provisions of podatkowych2. The standard assumes that these assets and liabilities (reserves) are recognised and valued, taking into account the tax provisions in force at the balance sheet date. However, if at the balance sheet date have already been adopted or issued by eligible for the authorities of the tax laws, that entry into force will occur in the future and does not depend on the decisions of other bodies (with the exception of decisions of the Constitutional Court), the assets and liabilities deferred tax is recognised and valued, taking into account these newly enacted laws.

1.4. content standard is consistent in the basic issues of the international accounting standard 12 "income taxes" (IAS 12) international financial reporting standards (International Financial Reporting Standards), issued by the international accounting standards Board (International Accounting Standards Board) as of 1 January 2010, the differences between this standard and international accounting standard No 12 consist of: – a more detailed process of adjustment of some of the issues in relation to IAS 12 taking into account the solutions resulting from the Polish tax law; in particular, unormowano treatment and the settlement of the investment premium-recognition in any case, deferred tax assets, while at the same time making – where necessary – write-downs of assets, which is a simpler method. IAS 12, implies recognition of deferred tax assets income only to the extent to which it is probable that taxable income is reached, which will allow for the deduction of deductible temporary differences – in paragraph 11.15. and 11.16. set out the factors that should be taken into account when determining whether it is likely to achieve income at a level which allows the deduction of deductible temporary differences; some of them are different from the indicated by IAS 12,-in section 14.2. assumes that the netting of assets and of deferred income tax depends on the adopted by the rules of accounting policy, unlike the IAS 12, – in paragraph 15.4. and 16.5. assume that the adjustment of deferred tax assets as a result of these assets impairment solutions corrects the value of the company not later than the end of the financial year; IAS 12 in connection with IFRS 3 provides for a different period, in which such adjustments can be made,-in section 16.11. assume that if a parent, venturer unit of interdependent or significant investor in accordance with paragraph 16.8. is required for recognition of deferred income taxes, should determine how the reversal of temporary differences. If it is not possible to reliably determine how the reversal of temporary differences in the future, it must be assumed that the reversal of the temporary differences will occur through the sale of shares; IAS 12 does not specify the procedure in this situation – in point 16.14. assume that if an entity does not have a specified intent as to the conduct of the shares of the subsidiary, and a temporary difference is negative, it is assumed that it is not likely that the deductible temporary differences will reverse in the future; IAS 12 does not specify the procedure in this situation – in point 19.4. assume that the difference between the costs of income tax referred to in paragraph 19.1 c. and the costs of the tax referred to in paragraph 19.3. These include assets or deferred tax liabilities; IAS 12 does not specify how the balance sheet of this difference, – provides for a narrower scope disclosure in respect of IAS 12.

1.5. Standard regulates issues relating to unused tax credits referred to in IAS 12 and which are not regulated in the Act on accounting.


1.6. The examples included in the Standard are based on tax provisions, including, in particular, on the provisions of the income tax Act legal persons of 15 February 1992 (OJ 1992 No 21, item 86, as amended), hereinafter referred to as the income tax Act, according to legal status on 1 January 2010, in order to ensure the completeness of the subject of the Standard and consistency of the material , the examples also includes the provisions of the income tax Act, in force in the years preceding 2010. For the same reason, in some examples assume the assumptions about the tax rates applicable in the years after 2010. These examples are marked in the text of the Standard in the footnotes.

1.7. the Standard contains some solutions, adapted to the tax rules in force on 1 January 2010, this concerns in particular the solutions referred to in points 3.5, 3.10, 4.9., 5.5., 10.3. The cause of the conclusion of these solutions is to take into account the possibility of introducing any changes to tax laws.

1.8. Clarification of the standard does not serve for the interpretation of tax legislation.

II. definitions 2. Used in Standard mean: gross profit gross profit or gross loss determined in accordance with accounting principles.

Income or tax loss is the difference between tax revenues and the cost of obtaining revenue. If the difference between tax revenues and the cost of obtaining revenue is positive, is taxable income, if it is negative, is a tax loss.

Tax revenues – amounts affecting the increase of income (decreasing the tax loss). The rules for determining tax revenues tax regulations. Revenues which are in accordance with the income tax act the income tax-free item, are not within the meaning of the standard income tax.

The cost of obtaining revenue – amount affecting the reduction of income (increase the tax loss). The rules for determining the cost of revenue tax regulations. Costs which are in accordance with the income tax act the income tax-free item, are not within the meaning of the standard deductible costs.

Taxable income less deductions from income and enlarged by additions to income.

Deductions from income-deductions against income, shall be made to determine the tax base, the subject matter and the way deductions from income tax regulations.

Additions to income – include magnifying income, shall be made to determine the tax base, the subject matter and how additions to income tax regulations.

The taxable amount after deductions (the basis for calculating the income tax) is a tax base income tax liability is determined for the period in accordance with the tax laws. The product of the taxable amount after deductions and income tax rate is, after taking into account the additions to and deductions from the tax liability for income tax. The taxable amount after deductions is the tax base, reduced by the reduction of the tax base and increased by increasing the tax base.

Reduce the tax base – to reduce reducing the tax base, made in order to determine the taxable after deductions; the subject matter and the manner of deductions from the tax base tax regulations.

Increase the tax base – to increase the magnifying the tax base, made in order to determine the taxable after deductions; the subject matter and the manner of deductions from the tax base tax regulations.

Tax deduction is a reduction in the amount of which is the product of the taxable amount after deductions and tax rate, made in order to establish liability or income tax receivables; the subject matter and how to determine the tax deductions from tax laws.

Additions to the tax-increase the amount which is the product of the taxable amount after deductions and tax rate, made in order to establish liability or income tax receivables; the subject matter and how additions to tax tax regulations.

The premium investment-the cost of revenue, income, the deduction from income, reducing the tax base or tax deduction in the case of acquisition or production of an asset subject to depreciation or land belonging to fixed assets (excluding land valued fair value), non-binding with a reduction of its tax base.

Liability for income tax – the amount of income tax to be paid, determined in accordance with the tax laws.

Rental income tax – income tax amount refundable or passing on future tax liabilities, determined in accordance with the tax laws.

The carrying amount of the asset or liability is the value of an asset or liability determined in accordance with accounting principles.

The tax base of an asset or liability is the value of an asset or liability is determined taking into account the tax laws.

Temporary differences – differences between the carrying amount of the asset or liability and its tax base. Temporary differences may be: a) Positive temporary differences. Are those temporary differences that will result in the emergence of quotas to increase the tax base in future periods when the carrying amount of the asset is realised or the liability component. Taxable temporary differences arise when the carrying amount of the asset is greater than its tax value or the carrying amount of the liability is less than its tax base. Taxable temporary differences can also arise in connection with the items not included in the accounts as assets or liabilities.

b) Negative temporary differences. Are those temporary differences that give rise to the detriment of the amounts taxable in future periods when the carrying amount of the asset is realised or the liability component. Deductible temporary differences arise when the carrying amount of the asset is less than its tax base or the carrying amount of the liability is higher than its tax base. Deductible temporary differences may also arise in connection with the items not included in the accounts as assets or liabilities.

The deferred income tax is the amount of income tax liabilities, which are expected to rise in the future, in connection with the occurrence of taxable temporary differences.

Unused tax-income tax free and the reduction of the tax base, subject to transfer to deduct tax in subsequent years.

Deferred tax assets-amount that are expected to decrease in the future income tax liability or will be reimbursed, in connection with the occurrence of deductible temporary differences or in connection with the loss of tax base, to be deducted from income in the future; deferred tax assets also arise in respect of unused tax credits.

Costs or income from tax dochodowego3 – the total amount of the costs or revenues from income tax (current and deferred), taken into account when determining the net profit or loss for the reporting period.

The tax strategy was planned by the transaction or series of transactions, where the goal is to achieve the intended impact on commitment or payment of income tax.

Shares-shares accordingly.

Connect-connect to commercial companies or their organized parts referred to in Section 4a of the accounting Act.

III. The tax base of the asset. Determination of temporary differences between the carrying amount and the tax base of assets 3.1. The tax base of the asset is the amount referred to in article 1. 37 paragraph 2. 2 of the accounting Act, an impact on reducing income tax calculation base (taxable amount after deductions) in the event of them, directly or indirectly, the economic benefits. The method of determining the value of the tax applies to assets from which benefits are taxed.


3.2. The assets shall be understood, in pursuant to art. 3 paragraphs 1 and 2. 1 paragraph 12 of the accounting Act – controlled by the financial resources of reliably specified value, arising as a result of past events, which will in the future impact to the economic benefits. Shot in the books of the entity of any asset is associated with the anticipation of the impact of future benefits to the individual. The benefits of the assets are derived in different ways: in the case of tangible assets and intangible assets used in the manufacture of products, management or sales or for other purposes, the benefits of these assets resulting from its use in these processes. These assets provide usually indirectly future benefits to their use in processes relating to the activities of the unit. In the case of products or goods effect of future benefits is usually the way to obtain cash or a right to receive them at the time of disposal of the product, or the product or service. In the case of assets having the form of receivables impact future benefits from the rule by receive cash for their repayment. Regardless of how you obtain the benefits of the assets, the final stage of implementation of these benefits is usually the receipt of funds from the sale of products, goods or services or payment for this.

3.3. impact of future benefits from the assets may be at a certain stage of their getting taxed. If an entity shall measure the asset at an amount in excess of its tax base, and the benefits of this asset will be in the future, at some stage of their implementation, opodatkowane4, this requires the deferred tax dochodowego5. This is justified, that the implementation in the future benefit from the asset will increase the tax base of the higher amount, which in the future will reduce the tax base (tax base). The valuation of an asset at an amount in excess of its tax base means therefore the expectation of the creation in the future income tax liability as a result of past events. Though the tax obligation in the future, is the unit, to the emergence of positive temporary difference (in this case, the excess of the carrying amount of the above tax asset), expects the use of present or future assets as a result of past events, which means that it is to pay the obligations within the meaning of the definition given in article 1. 3 paragraphs 1 and 2. 1 paragraph 20 of the accounting Act. The creation policy of deferred income taxes in connection with positive temporary differences is shown in paragraph 8.1.).

Example of the application of paragraph 3.1. and 3.3.

In December of the year 20 x 2 unit purchased the building with the initial value £ 1.1 million, passing it to the fixed asset. For accounting purposes asset amortyzowano on a straight-line basis, assuming a 30-year period use and residual value of $500,000.

Depreciation costs building are considered deductible costs. Tax laws assume the depreciation of an asset by the linear method at 2.5%, without taking into account the residual value.

The carrying amount of an asset on the balance sheet date 31.12.20 X 3:1.080.000 zł, the tax base of an asset on the balance sheet date 31.12.20 X 3:1.072.500 $ temporary difference (positive) 6:7,500 PLN example of paragraph 3.1. and 3.3.

15.11.20 X 3, unit acquired the shares, classifying them as held for trading. The purchase price was set at £ 4,000,000 shares. At the balance sheet date the fair value of the shares, X 3 31.12.20 was established on the funding.

Tax regulations provide that the amount of the expenditure on the acquisition of shares is considered deductible costs at the time of disposal. Correction of the value of the shares do not constitute tax revenues and the cost of obtaining revenue.

The carrying amount of the shares at the balance sheet date 31.12.20 X 3: funding $ tax Value of shares at the balance sheet date 31.12.20 X 3: £ 4,000,000 temporary difference (positive): £ 1,500,000 3.4. If an entity shall measure the asset in the amount less than the value of the tax and the benefits associated with the asset will be taxed at a certain stage of realization of these benefits, it shots require deferred tax assets dochodowego7. This is justified by the fact that in the future implementation of the benefits of the asset will increase the tax base in the amount lower than the amount which in the future will reduce the tax base (tax base). The valuation of the asset in the amount lower than the tax base means therefore the expectation of a reduction in future tax base, as a result of a past event. Reduction of the tax base will decrease in the future income tax liability unit, provided that, in the future, income units will be developed at a sufficiently high level. The unit has therefore deferred tax assets dochodowego8. The rules for their treatment determined by point 9.1.

Example of the application of paragraph 3.1. and 3.4.

In December of the year 20 x 2 unit acquired a production machine with an initial value 510.000 $. For accounting purposes the machine amortyzowano by natural, in proportion to the number of hours of work. It is estimated that for the period of its use has already worked 10,000 hours. After a period of use of the device will be sold for £ 10,000. In 20 x 3, the machine worked 3,000 hours.

Depreciation costs machines are considered deductible costs. Tax laws assume that depreciation of the machine must be carried out according to the linear method at 20%, without taking into account the residual value.

The carrying amount of an asset on the balance sheet date 31.12.20 X 3: £ 360,000, the tax base of an asset on the balance sheet date 31.12.20 X 3:408.000 $ temporary difference (negative) 9:-£ 48,000 example of paragraph 3.1. and 3.4.

On 31.12.20 X 3, the unit had in stock goods of the purchase price of $2,000,000. The price of the goods of this kind have been significantly reduced in the second half of the 20 x 3, at 31.12.20 X 3, the selling price of these goods was set at £ 1.5 million.

Tax laws provide that the value of the purchased goods is considered deductible costs at the time of their disposal, and write-downs of the value of the goods does not constitute expenses deductible.

The carrying amount of the item of goods at the balance sheet date 31.12.20 X 3: $1.5 million, the tax base of the item of goods at the balance sheet date 31.12.20 X 3: £ 2,000,000 interim Difference (negative):-£ 500,000 3.5. Clarification of paragraph 3.1. shall apply mutatis mutandis to the assets from which benefits will be taxed, unless the assets of those linked to the amount of impact on the value of tax deductions.

3.6. If the economic benefits from the asset will not be opodatkowane10, and the write-off, loss or other reduction in the value of the asset is not included as a reduction of the tax base, the tax base of the asset is its value bilansową11.

3.7. The impact of the future benefits of the asset may not be taxed. This can, for example, be due to the fact that the benefits of the assets have already been taxed on previous stages of their implementation, and the implementation phase benefits assets do not bring any additional korzyści12. If the economic benefits from the asset will not be included in the determination of the future of the tax base, and the write-off, loss or other reduction in the value of the asset is not included as a reduction of the tax base, it is the realization of future benefits from the asset, or the lack of implementation of these benefits will not enlarge or shrink the tax base. In respect of such assets is not formed of deferred tax liability or deferred tax assets not income, because the realization of benefits from those assets, or the lack of it, will not cause increases or decreases income tax obligations. Because Standard assumes the determination of assets and of deferred income tax based on differences between the carrying amount and the tax base of assets and liabilities, in the case of these assets do not arise differences of this kind. The tax value is equal to the carrying amount.

Example of point 3.6.

Unit 1.07.20 X 3 r. poręczyła repayment of an interest-free loan for the amount of $1 million, provided for BETA S.A. due to triggering by BETA S.A. with its obligations, the entity to repay the amount of the loan is $1,000,000. At the same time, she joined in the creditor's right, taking over a claim in respect of the loan. Due to the financial situation of the debtor, the claim included a copy of the update.


Pursuant to the tax provisions of impairment, acquired the claims are not and will not be deductible expenses. In the event of a possible repayment of the debt, the unit will not tax revenue.

The carrying amount of trade receivables at the balance sheet date X 3 31.12.20: $0 the tax base of the receivables at the balance sheet date 31.12.20 X 3:0 € rationale: no matter what the amount of the debt will be repaid, the entity does not consider the costs of obtaining income or tax revenue in connection with a given loan. Therefore, in accordance with paragraph 3.6. the tax base of the loan is equal to its carrying amount.

A temporary difference: 0 $3.8. If the economic benefits from the asset will not be taxed, but inventories, loss or other reduction in the value of the asset will decrease the tax base, the tax base of the asset is its carrying amount plus the amount, which in the future will reduce the tax base, if the entity obtains benefits corresponding to the carrying amount of the asset.

3.9. Sometimes tax provisions provide that the benefits of the assets will not be taxed, but to attain these benefits affect the deduction in the tax base. In the case of those assets their future full implementation will not enlarge or shrink the tax base, and partial or full write-off, loss or other reduction values will result in a deduction from the tax base. If there is a reduction in the value of such assets, but for the reasons set out in the provisions of the tax reduction is not yet included in the determination of the tax base (to be included in the future), the deductible temporary differences. Principles for recognising deferred tax assets income specified in section 9.1.

Example of the application of paragraph 3.8.

In 20 x 3, the unit sold the goods for $1 million. Sales were taxed at 0% for the purposes of the goods and services tax. In this connection, that claim turned out to be deemed uncollectible, but has been secured for the amount of $300,000, at the balance sheet date-31.12.20 X 3 r. – impairment of trade receivables in the amount of $700,000.

Costs arising from impairment of trade receivables will be recognised in the future for the cost of obtaining revenue.

The carrying amount of trade receivables at the balance sheet date 31.12.20 X 3: £ 300,000 the tax base of the receivables at the balance sheet date 31.12.20 X 3: £ 1,000,000 (300,000 + 700.000) interim Difference (negative):-£ 700,000 example of paragraph 3.8.

In 20 x 9, unit sold goods for 2 million in foreign currency X. Sales were for the purposes of tax on goods and services taxed at 0%. The exchange rate X day sales amounted to £ 5.00. To the valuation at the balance sheet date-31.12.20 X 9 – payment has been calculated according to the exchange rate 4.00 zł.

Tax laws assume recognition of tax revenues or costs income from Exchange rate differences at the time of payment for the sale.

The carrying amount of trade receivables at the balance sheet date 31/12/2009:8.000.000 € (2,000,000 x 4) the tax base of the receivables at the balance sheet date 31/12/2009: £ 10,000,000 rationale: the realization of the benefits of an asset will not enlarge the tax base, but the lack of such implementation will reduce the tax base in the future, therefore, in accordance with paragraph 3.8 (8,000,000 + 2,000,000) tax value = the carrying amount of the receivables + amount that in the future will reduce the tax base in connection with the implementation of the benefits of the duties according to the carrying amount.

Interim difference (negative):-2.000.000 $3.10. The explanations referred to in paragraph 3.8. shall apply mutatis mutandis to the assets from which benefits are not taxed, but inventories, loss or other reduction in the value of the assets will be taken into account in determining the deductions from tax.

3.11. If an asset consists of: (a)) from which the benefits will be taxed, and/or b) where the benefits are not taxed, and the write-off, loss or other reduction in value will not be taken into account in determining the tax base, and/or (c)) from which benefits are not taxed, and the write-off, loss or other reduction in value will be taken into account in determining the tax base to clarify paragraph 3.1. , 3.6. and 3.8. shall apply mutatis mutandis to those parts of the asset.

3.12. The explanations referred to in point 3.1., 3.6. and 3.8. also applies to assets that have previously been recognised in the financial statements, but whose value been depreciated, been deducted from or reduced in any way.

Example of the application of paragraph 3.11.

In 20 x 9, unit sold the goods for the price of 2 million in foreign currency X. Sales were for the purposes of tax on goods and services taxed at 0%. The exchange rate on the day the sale was £ 5.00. To the valuation at the balance sheet date-31.12.20 X 9 – payment has been calculated according to the exchange rate 6.00 zł.

Tax laws assume recognition of tax revenues or costs income from Exchange rate differences at the time of payment for the sale.

The carrying amount of trade receivables at the balance sheet date 31/12/2009: £ 12 million (2,000,000 x 6) the tax base of the receivables at the balance sheet date 31/12/2009: £ 10,000,000 (10 million + 0) the tax base of the part of the royalties from which economic benefits are not taxed, but that write-off, loss or other reduction in value is included as a reduction of the tax base: $10,000,000 rationale: the realization of the benefits of this part of the asset will not enlarge the tax base but the lack of such implementation will reduce the tax base in the future, therefore, in accordance with paragraph 3.8.: the tax base = the carrying amount of the receivables, parts of which the benefits are not taxed + amount that in the future will reduce the tax base, in relation to the realisation of the benefits of this part of the receivable according to the carrying amount.

(2 m x 5 + 0)

 

 

The tax base of positive exchange differences i.e.. part of the charges of which the benefits will be taxed: $0 reason for change: the realization of the benefits of this part of the asset to zoom-in on the tax base and, therefore, in accordance with paragraph 3.1.: the tax base = amount of impact on reducing the tax base if you get of them, directly or indirectly, the economic benefits.

 

A temporary difference (positive): £ 2,000,000 example of paragraph 3.11.

The unit has 1.07.20 X 3 r. loan in the amount of $1,000,000, interest at the rate of 7% on an annual basis, which are classified into loans and receivables. At the balance sheet date 31.12.20 X3r. you haven't made write-downs of receivables.

Pursuant to the tax provisions of tax revenues from interest income to arise at the time of their receipt (payment).

 

 

The carrying amount of trade receivables at the balance sheet date 31.12.20 X 3: (1 million + $35,000, i.e. 7% of 1,000,000/2) £ 1.035.000 tax Value of receivables at the balance sheet date 31.12.20 X 3: £ 1,000,000 (1,000,000 + 0) the tax base of the receivables on loans without interest: £ 1,000,000 rationale: the realization of the benefits of this part of the asset, or the lack of such implementation, will not increase or reduce the tax base in future and, therefore, in accordance with paragraph 3.6.: the tax base = the carrying amount.

 

The tax base of the interest on loans receivable: $0 reason for change: the realization of the benefits of this part of the asset to zoom-in on the tax base and, therefore, in accordance with paragraph 3.1.: the tax base = amount of impact on reducing the tax base if you get of them, directly or indirectly, the economic benefits.

 

A temporary difference (positive): £ 35,000 example of paragraph 3.11.

In 20 x 3, the unit sold the goods for $1 million. The sale is taxable for purposes of the goods and services tax at the rate of 22%. In this connection, that the receivable deemed uncollectible impairment at the balance sheet date, 100% of the value of the receivables.

Costs in respect of an impairment charge will be considered in the future for the cost of obtaining revenue to the extent that it was considered tax revenues, IE. in the amount of $1,000,000. The remainder of the impairment charge in the amount of $220,000, which corresponds to the faults of VAT, will not be considered as cost of revenue.


Justification the determination of temporary differences: Although the claim does not meet the criteria designated by the definition of assets, in accordance with section 3.12. the rules for determining the temporary differences are analogous, as in the case of assets, since the amount was previously included in the financial statements as an asset.

The carrying amount of trade receivables at the balance sheet date X 3 31.12.20: $0 the tax base of the receivables at the balance sheet date 31.12.20 X 3: £ 1,000,000 (0 + 1,000,000) for part of the receivables resulting from the VAT: 0 € rationale: realization of the benefits of this part of the asset, or the lack of such implementation, will not increase or reduce the tax base in the future, therefore, in accordance with paragraph 3.6.: the tax base = the carrying amount.

 

 

 

For the rest of the charges: £ 1,000,000 rationale: the realization of the benefits of this part of the asset will not enlarge the tax base, but the lack of such implementation will reduce the tax base in the future, therefore, in accordance with paragraph 3.8.: (0 + 1,000,000) the tax base of = the carrying amount + amount that in the future will reduce the tax base, in relation to the realisation of the benefits of parts of receivables according to the carrying amount.

 

Interim difference (negative):-1,000,000 $3.13. Assets and liabilities deferred tax is recognised only in respect to the expected future increases and reductions of the tax base after deductions (including additions to or deductions from tax), which are the result of a past event. You cannot capture the reserves and deferred tax assets on the basis of a future plan to the amount of income tax obligations. Information about the future, the planned tax revenue and cost of revenue are sometimes used by individuals for the purposes of tax planning and have for example. the form of budgets that specify the expected data on the tax base and the amount of future income tax liabilities. Information about future tax liabilities resulting from such studies, cannot be the basis for recognition of reserves or assets deferred income tax. This is due to the fact that many operations to be taken into account in determining the expected income tax obligations applicable transaction future that cannot be included or on the books or in the financial statements. While the information resulting from such studies can be used for other purposes eg. to determine that it is likely to in the future income allowed the deduction of deductible przejściowych13.

3.14. The determination of assets and of deferred income tax shall not be netted together temporary differences.

Example of the application of paragraph 3.14.

On the 31.12.20 X 3, the unit had two machines. Data on these fixed assets: the value of the fixed asset Machine 1 machine 2 Initial-$ 1,000,000 $2,000,000 for accounting purposes – Relief for accounting purposes $400,000 1,000,000 $ carrying amount (net) $600,000 $1,000,000 Initial-$ 1,000,000 $2,000,000 for tax purposes-Relief for tax purposes $800,000 $600,000 Tax (net) $200,000 $1,400,000 in addition to the above, there are no other temporary differences.

Although the sum of the balance sheet value of both assets is equal to the sum of their values ($ 1.6 million), separate account shall be taken of the temporary differences positive £ 400,000 ($ 600,000-$ 200,000) and negative temporary differences of 400,000 $ (1,000,000-1,400,000).

3.15. the tax value of the assets shall be determined, taking into account the tax laws applicable on the day of bilansowy14. In determining the value of a tax asset take into account require reliably established the objective of the unit, as to how to use aktywów15.

IV. The tax base of the liability. Determination of temporary differences between the carrying amount and tax liabilities 4.1. Tax liabilities is – in accordance with article 5. 37 paragraph 2. 3 of the Act on accounting, their carrying amount less the amount which in the future will detract from the income tax base (taxable after deductions). If as a result of past events the settlement obligations of the entity in the future will increase the tax base, the tax base of the liability is equal to the carrying amount plus the amount, which in the future will increase the tax base.

4.2. By undertaking means-in pursuant to art. 3 paragraphs 1 and 2. 1 paragraph 20 of the accounting act – resulting from past events the obligations performance of reliably a particular value that will result in the use of existing or future assets of the entity. Recognition of the obligation to provide for the obligation connected with the expectation of reducing future benefits unit, to the need to issue cash or other assets.

4.3. If the carrying amount of obligations that are the amount, which in the future will reduce the tax base, in connection with the operation or settlement of the liability will decrease the tax base in the future, resulting from past events. The unit has therefore assets deferred income tax. How to determine those assets presents point 9.1.16 example of paragraph 4.1.

1.07.20 X 3, an entity has a liability for a loan for the amount of $5 million, remunerated at the rate of 10% on an annual basis. Repayment of the loan and interest will be 1.07.20 X 4 r.

Interest on obligation will be considered deductible costs at the time of repayment.

The tax base of the liability on the day 31.12.20 X 3:5.000.000 PLN rationale: the carrying amount includes the amount, which in the future will detract from the tax base and, therefore, in accordance with paragraph 4.1.: (5.250.000-250,000) the tax base of the = the carrying amount of the amount of future-reductions tax base contained in the carrying.

 

 

 

The carrying amount of the liability on the day 31.12.20 X 3: £ 5.250.000 temporary differences (negative) 17: £ 250,000-example of use 4.1.

A collective labour agreement, which the party is an entity, provides for the payment of Jubilee awards. In view of these benefits on the day 31.12.20 X 3, the unit has set up a reserve in the amount of $10.5 million Jubilee (made of passive accruals).

Tax laws provide that the costs of Jubilee awards are deductible costs when incurred these costs. The creation of provisions for Jubilee is not deductible costs.

The tax base of the liability on day X 3 31.12.20: $0 reason for change: the carrying amount includes the amount, which in the future will detract from the tax base and, therefore, in accordance with paragraph 4.1.: (10.5 million-10.5 million) tax value = the carrying amount – the amount of future reductions of the tax base contained in the carrying.

The carrying amount of the liability on the day 31.12.20 X 3: £ 10.5 million temporary differences (negative):-$ 10.5 million example of paragraph 4.1.

Accruals for warranty repairs in the unit on the day of the 31.12.20 X 3, £ 1,000,000. In December 20 x 3, unit also had commitments in respect of contracts with people-profit-oriented business in the amount of $400,000. These debts have not been settled to the 31.12.20 X 3.

Tax laws provide that the cost of warranty repairs are deductible costs when incurred. While the costs arising from contracts entered into with people-profit-oriented business are deductible costs at the time of payment of the remuneration.

 

Accrued liability for contracts, the tax base on the day of the 31.12.20 X 3:0 $ (1,000,000-1,000,000) $0 (400,000-400,000) rationale: the carrying amount includes the amount, which in the future will detract from the tax base and, therefore, in accordance with paragraph 4.1.: the tax base = the carrying amount – the amount of future reductions of the tax base contained in the carrying.

 

 

Carrying amount per day X 3 31.12.20: $1,000,000 400,000 $ temporary differences (negative):-£ 1 million-£ 400,000


4.4. Sometimes the settlement obligations at a later date will use the assets of the unit, and, as a result of past events, will increase in the future tax base. The fact that the increase in the future tax base resulting from past events, will rise in the future income tax liability means that unit expects the use of present or future assets as a result of past events, therefore, rest on the commitments which the due date or amount are not certain (cf. Article 3, paragraph 1, paragraph 20, of the accounting Act), which justifies the creation of deferred income tax. Therefore, if the settlement obligations at a later date will use the assets of the unit, and, as a result of past events, will increase in the future tax base, the tax base of the liability is higher than the carrying amount. Rules for the recognition of deferred income tax is determined by point 8.1.

Example of use 4.1.

The unit has acquired from a foreign vendor goods. Commitment to suppliers in foreign currency X with that title was 1,000,000. The exchange rate on the day of the commitment was $2.00.

By making the valuation on the day 31.12.20 X 9 are converted into euros at the rate commitment 1.70 €. Tax laws assume recognition of tax revenues or costs income from Exchange rate differences at the time of repayment of liabilities.

 

 

The tax base of the liability at the balance sheet date-31.12.20 X 9: £ 2,000,000 rationale: settlement of liabilities in the carrying amount would result in enlargement of the tax base of $300,000, with the result that, in accordance with paragraph 4.1.: (1.700.000 + 300,000) tax value = the carrying amount + amount of future increases the tax base resulting from past events.

 

 

 

The carrying amount of the liability at the balance sheet date-31.12.20 X 9:1.700.000 € temporary differences (positive): 300,000 $4.5. If the amount, which in the future will detract from or will increase the tax base income tax (referred to in point 4.1.) are covered by the tax base of assets, it does not take account of them in determining the tax base of the liability.

4.6. The cause of taking into account in the value of the tax liabilities of amounts, which in the future will increase or reduce the tax base is the fact that as a result of past events or transactions unit has "postponed" 18 commitments or liabilities, which in the future will be converted, respectively, in liability for income tax or a reduction in, or the right to a refund of this tax. However, if these amounts are included in the tax base of assets, their inclusion in the tax base of the obligations would result in a double determination of temporary differences: the value of the liabilities and the value of the assets. For this reason, if the amount, which in the future will detract from or will increase the tax base income tax (referred to in point 4.1.) are subject to tax for other positions, it does not take account of them in determining the value of tax obligations.

An example of the use of paragraph 4.5.

The unit has 1.07.20 X 1 r. loan in the amount of $1,000,000, bears interest at a fixed rate of 14% on an annual basis. The loan, with interest not subject to capitalisation should be repaid in 20 x 4 r. Commitment from 20 x 1-20 x 2 was the financing of the construction of the asset, and the interest for 20 x 1, 20 x 2 and were included in the value of an asset under construction. Interest for the 20 x 3, IE. After admitting to the use of a fixed asset are recognised as financial expenses.

Pursuant to the tax provisions of interest from the commitments for the financing of the asset during the period of its construction (i.e. for the years 20 x 1-20 x 2) increase the value of the asset under construction. While the interest accrued for the use of the asset (i.e. accrued in 20 x 3) will be the cost of obtaining revenue from the moment of payment.

 

31.12.20 X 1.

31.12.20 X 2 r.

31.12.20 X 3.

The tax base of the liability: 1.070.000 $1.210.000 $1.210.000 $1.070.000 liabilities: the carrying amount of the $1.210.000 $ $1,350,000 temporary differences: $0 $0-$ 140,000 4.7. If the liabilities are accrued revenue, the tax base is equal to the value, which in the future will increase the basis for calculating the income tax (taxable after deductions).

4.8. If the entity has included accruals of income (for example, to receive in the form of donations of tangible assets subject to depreciation), and obtained the assets went to tax revenues, it means that a negative temporary difference. This is justified, that the determination of the tax revenues – in accordance with the provisions of the tax-receipt of the assets, to include the transaction for tax purposes, which could not yet affect the profit unit. The realization of revenue from the sale of products or goods is not in receipt of the assets, but performance. As a result, the tax effects of such transactions occur "well in advance" in relation to the effects that should be recognised in accordance with accounting principles. For these reasons, the defined temporary differences concerning the accrued revenues in accordance with paragraph 4.7.

4.9. the rules referred to in paragraph 4.1., 4.5. and 4.7. shall apply mutatis mutandis to the obligations, which in the future will result in additions to tax or tax deduction. Those rules also apply to the obligations, which previously included in the financial statements, but whose value been deducted from or reduced in any way.

4.10. The tax base of the equity is equal to their carrying amount.

4.11. Paragraph 3.14. and 3.15. shall apply mutatis mutandis to the value of the tax liabilities.

V. The tax base of the items not included in the assets and liabilities. Determination of temporary differences relating to these items. Tax loss possible to deduct from the income in the future. Unused tax credits.

5.1. Are not included in the assets or liabilities, arising from past events, the rights and obligations, to reduce or increase the tax base in the future, are negative or positive temporary differences in the amount, which will respectively decrease or increase the tax base in the future. Incurred tax losses which in accordance with the provisions of the tax law, an entity may deduct in future income and unused tax are the basis for recognition of deferred tax assets.

5.2. Tax losses incurred by an entity can usually be for a period of time designated in the regulations of the tax, included in the determination of the tax base in the future. In the event of a tax loss, possible in the future to deduct from income, it is understood that the unit has deferred tax assets dochodowego19. This is justified, that the body in the present situation, future benefits resulting from past events. These benefits consist of the right to a reduction in future income tax liabilities, to deduct the tax loss from income.

Example of the application of paragraph 5.1. and 5.2.

In the year 20 x 3 unit suffered a loss of tax in the amount of $3,000,000. Tax laws provide that this loss can be deducted from income over a period of 5 consecutive years, and in each of the years cannot be shrink income by more than 50% of its amount and.

The amount which is the basis for the recognition of deferred tax assets: Reason: tax loss deductible from income, which will be achieved in the future, is $3,000,000, therefore, in accordance with paragraph 5.1. It is the basis for the recognition of deferred tax assets.

-$ 3,000,000 tax losses will form the basis for the recognition of deferred tax assets, taking into account paragraph 11.11. -11.2020 5.3. Income tax free, extra in the tax year, and to reduce the tax base, extra from the tax base in the fiscal year, shall be subject to the sometimes deductible in future tax years. In this case, these revenues or decrease are the basis for recognition of deferred tax assets dochodowego21. This is justified, that the body in the present situation, future benefits resulting from past events. These benefits consist of the right to a reduction in future income tax liabilities, to the rights of deductions (reductions). Examples of unused tax credits are contained in chapter XIII.


5.4. Some events do not cause the recognition of an asset or liability (e.g., surety, the rental of the asset). Sometimes, however, these events can cause, that in the future you will be reducing or increasing the tax base. The expected reduction in the tax base as a result of past events means the emergence of deductible temporary differences, and the expected increase in the tax base as a result of past events – taxable temporary differences. The tax base of these items, which are at the same time, temporary differences, is equal to the amounts, which in the future will increase or decrease the tax base.

5.5. the rules referred to in point 5.1. shall apply mutatis mutandis to the position, which in the future will result in additions to tax or tax deduction.

5.6. The tax base of the items not included in the assets and liabilities shall be determined, taking into account the tax laws applicable on the day of bilansowy22.

VI. the tax value of assets and liabilities in the leasing agreements 6.1. In the case of leasing contracts the tax values of assets and liabilities shall be determined in accordance with the provisions of chapters III – V. subject to the provisions of this chapter.

Application example 6.1.

On 31.12.20 X 2, (using) has entered into an agreement with the company leasing LEASING S.A. (the lessor). The subject of the contract was a machine. LEASING S.A. acquired a machine for the price of 140.400 € (+ 22% VAT) and then gave it in using the unit. In accordance with the contract of the transfer of ownership occurs after payment of £ 50,000 on 1.01.20 X 5 in the agreement indicated that the depreciation for tax purposes is made using. The unit is taxable VAT accounting for the only taxable sales tax on goods and services. LEASING S.A. does not benefit from the exemption in the income tax act. Due to the transfer of ownership of the subject of the contract after it is completed, for the purposes of accounting subject matter of the contract was certified by both the lessee and the lessor, to the assets. The interest rate financing was established (approximately) 7%. This rate is known to the licensee. The Unit intends to use the machine for a period of the next 5 years. After this period, the Unit intends to dispose of the device at the cost of £ 20,000. To depreciate the entity shall apply the straight-line method. In accordance with the tax laws, the right to have machine depreciation from financing the. The lessor is recognised tax revenues arising from lease payments due at the time of payment. Using include lease payments to the cost of obtaining revenue. Tax and is depreciated linearly at a rate of 20%, without taking into account the residual value. Schedule for the lease payments are as follows: date the lease payment VAT TOGETHER 1.01.20 X 3 r.

$50,000 $11,000 $61,000 1.01.20 X 4 r.

$50,000 $11,000 $61,000 1.01.20 X 5 r.

50,000 $11,000 $61,000 (selling price) £ £ £ 183.000 33,000 150,000 who USE Shot (31.12. X2r fantastic.)

31.12. X3r.

31.12. X4r.

1.01. X5r.

The carrying amount of the machine: 140.400 116.320 92.240 92.240 140.400-140.400-2 x (140.400-20,000)/5 (140.400-20,000)/5 the tax base of the machine: rationale: because the machine has been included in the assets of, and the benefits resulting from it will be taxed, to establish temporary differences apply paragraph 3.1.

0 0 0 50,000 temporary differences on the machine: 140.400 116.320 92.240 42.240 Value tax obligations: rationale: because the commitment was included in the books, and the settlement will result in the cost of revenue, to establish temporary differences is used to clarify the paragraph 4.1.

0 0 0 0 carrying amount of obligations: 140.400 96.728 50.00023 0 (1 + 7%) x (1 + 7%) x (140.400-50,000) (96.728-50,000) temporary differences relating to commitments:-140.400-96.728-50,000 0 FINANCING Shot 31.12. X3r.

31.12. X4r.

1.01. X5r.

 

(31.12. X2r fantastic.)

 

 

 

The carrying amount of the machine: 0 0 0 0 the tax base of the machine: 140.400 84.240 112.320 0 rationale: because the machine has been included in the assets of, and the benefits resulting from it will be taxed, to establish temporary differences apply paragraph 3.1. Later off the machine with the books at the time of fulfilment of the criteria of the finance lease does not constitute, in accordance with section 3.12, obstacles to the application of paragraph 3.1.

 

140.400-20% x 140.400-2 x 20% 2 x 140.400 140.400 temporary differences relating to the machine:-140.400-112.320-84.240 0 carrying amount: 140.400 96.728 50.00024 0 (1 + 7%) x (1 + 7%) x (140.400-50,000) (96.728-50,000) tax base: 0 0 0 0 rationale: since accounts receivable have been included in the books, and the benefits resulting therefrom will result in the recognition of revenue tax, to establish temporary differences apply paragraph 3.1.

 

 

 

 

 

Temporary differences for: 140.400 96.728 50,000 0 6.2. If the determination of the tax base includes the amounts relating to future transactions, which for accounting purposes does not cause even shot some assets or liabilities (or parts thereof), the tax base of these items, which are not included in the assets or liabilities are the amounts which it has been established that as the value of the tax, if these transactions are included in the books.

Application example 6.1. and 6.2.

On 31.12.20 X 2, (using) has concluded the contract of lease with the company GAMMA S.A. (the lessor). The subject of the contract was the Office machine. GAMMA S.A. acquired it for the price of € 204.000 (+ 22% VAT) and then gave it in using the unit. After the period of the contract, on 1.01.20 X 5 r., the device will be returned to the GAMMA S.A. in agreement indicated that the depreciation is made using. The unit is taxable VAT accounting for the only taxable sales tax on goods and services.

The interest rate which is 9.5% and is known to the licensee. In accordance with the Act on accounting subject matter of the contract was certified by both the lessee and the lessor, in the assets of the finansującego25. GAMMA S.A., after paying by unit equipment, intends to use the machine for a further period of 2 years (so the period of usefulness of the machines was established on 4 years). After this period, the device will be sold for a small amount. To depreciate the machine GAMMA S.A. applies the straight-line method.

In accordance with the tax laws, the right to the depreciation of machinery shall be entitled to the licensee. Pursuant to the tax provisions of the machine is amortized on a straight-line basis at the rate of 14%.

Schedule for the lease payments are as follows: date of repayment of the value of the subject of the contract the remainder of the fees Time lease payments of VAT (1) (2) (3) = (1) + (2) (4) (5) 1.01.20 3.

$28,000 $2,000 30,000 $6.600 € £ 36.600 1.01.20 X 4 r.

$28,000 $2,000 30,000 $6.600 € £ 36.600 1.01.20 X 5 r.

£ £ £ 150,000 2,000 148.000 33.000 € £ £ £ 6,000 204.000 TOGETHER 183.000 210,000 £ £ £ 256.200 46.200 USING Shot (31.12.20 X 2)

31.12. X 3 r.

31.12. X4r.

1.01. X5r.

The carrying amount of the machine: 0 0 0 0 the tax base of the machine: rationale: Although the machine is not an asset in accordance with paragraph 6.2. to determine the tax base the principles applicable to the asset. paragraph 3.1.

204.000 175.440 146.880 0 204.000-14% x 204.000 204.000-2 x 14% x 204.000 0 temporary differences relating to the machine:-204.000-175.440-146.880 0 the value of the tax obligations: rationale: Although the unit does not show commitment to acquire machinery, in accordance with paragraph 6.2. to determine the value of the tax applies to clarify appropriate for commitments. 4.1.

204.000 176,000 204.000-28,000 148.000 204.000-2 x 28,000 0 carrying amount of liabilities: 0 75,000 150,000 0 0, 5 x 210,000-210,000 30,000-2 x 30,000 temporary differences relating to commitments: 204.000 101.000-2.000 0 FINANCING Shot (31.12.20 X 2)

31.12. X3r.

31.12. X4r.

1.01. X5r.

The carrying amount of the machine: 204.000


153.000 102.000 102.000 204.000-25% x 204.000-50% x 204.000 204.000 the tax base of the machine: rationale: because the machine has been included in the assets of, and the benefits resulting from it will be taxed, to establish temporary differences apply paragraph 3.1.

0 0 0 0 temporary differences relating to the machine: 204.000 153.000 102.000 102.000 the carrying amount of the receivables: 0 0 0 0 the tax base: rationale: Although the charges were not 204.000 176,000 148.000 0 204.000-28,000 204.000-included in the accounts, in accordance with paragraph 6.2. to determine the tax base the principles applicable to the asset. paragraph 3.1.

 

 

2 x 28,000 temporary differences concerning:-204.000-176,000-148.000 0 carrying amount of work in progress (costs included depreciation): 0 75,000 150,000 0 0, 5 x 210,000-210,000-30,000 2 x 30.000 tax Value of work in progress: Reason: because the work in progress (in progress) has been included in the books, and the benefits resulting from it will result in future tax revenue recognition, to establish temporary differences apply paragraph 3.1.

0 0 0 0 temporary differences regarding work in progress: 0 75,000 150,000 0 VII. Recognition of income tax duties and obligations 7.1. Liability for income tax is recognised in the amount in which this obligation was established (in accordance with tax laws).

7.2. the amount of income tax expense is recognised in the amount in which the unit is in accordance with the tax laws, the right to income tax refund and/or to pass her against future tax liabilities.

7.3. If the taxpayer is tax group, in order to draw up the financial statements of the entities included in this group, the obligation or the amount of income tax for the tax group accounts for between its participants, in accordance with the applicable tax laws and concluded between the participants of the group agreement.

VIII. The creation of deferred income tax deferred income tax Provision 8.1 creates in the amount of income tax that requires payment in the future, in connection with the occurrence of taxable temporary differences, it is the differences that will in the future to increase the income tax calculation base (taxable amount after deductions) 26.

No deferred income tax, when the difference przejściowa27 a) applies the values of the company, which depreciation, inventories or any other reduction does not cause a reduction of the tax base, or b) arises from the initial recognition in the accounts of the asset or liability as a result of a transaction that: – is not a merger or acquisition of the unit or its organized part and does not affect the tax base or profit.

Example of the application of paragraph 8.1.

In December of the year 20 x 3 unit acquired the mining machine with an initial value £ 120,000. The expected useful life of the machine is 5 years old. It is expected that the residual value of an asset will be $0. For accounting purposes asset will be depreciated on a straight-line basis. The depreciation of the fixed asset are the cost of obtaining revenue. For tax purposes the asset will be depreciated on a straight-line basis at the rate of 25%. Income tax rate specified by tax laws for years 20 x 4-20 x 8 is 19%.

At 31.12. X 3 r.

31.12. X4r.

31.12. X5r.

31.12. X6r.

31.12. X7r.

31.12. X8r.

The carrying amount: 120,000 96,000 72,000 48,000 24,000 0 Value tax: 120,000 90,000 60,000 30,000 temporary difference 0 0:0 6,000 12,000 18,000 24,000 0 deferred income tax.

0 1.140 (19% x 6,000) 2.280 (19% x 12,000) 3,420 (19% × 18,000) 4,560 (19% x 24,000) 0 8.2 regardless of nasposób the call is billed by the acquisition, goodwill is the difference between the price of the acquisition of the unit, and the fair value of its net assets. All liabilities and income tax receivables, assets and deferred income tax, determined on the day the invoice connection method of acquisition shall be included in the fair value of the net assets of the acquired entity, taking into account paragraph 15.2. Because these assets, liabilities (reserves) will be taken into account in determining the fair value of the net assets of the acquired units, their inclusion will impact the amount of goodwill. The adoption of that on the day the connection, you should enclose the reserve deferred tax income from goodwill for which depreciation, inventories or any other reduction is not a cost of revenue, would result in the need for readjustment. Hence does not form of deferred income taxes in connection with the temporary differences related to goodwill, where depreciation, inventories or any other reduction is not a cost of obtaining revenue.

8.3. If, however, the write-off, depreciation or other reduction in goodwill is recognised as an expense for income, the differences between the carrying amount and the tax base of goodwill are temporary differences, which shall be taken into account when determining the assets or deferred tax liabilities, taking into account paragraph 11.11. -11.20.

8.4. the rules referred to in paragraph 8.2. and 8.3. shall apply mutatis mutandis to the value of the company, as established in the case of the valuation of the shares under the equity method, and to the values of the company, established in connection with the inclusion of the data unit to the consolidated financial statements by the full or proportional.

8.5. If, at the time of initial recognition of assets or liabilities in the accounts of temporary difference arises which does not affect the gross or the tax base, and at the same time, it is not the result of the connection not recognised assets or deferred tax liabilities. The cause of this behaviour is the fact that although it is logical the assertion about the presence of reserves or assets deferred income tax by the existence of temporary difference that meets this criterion, these reserves or assets would have to involve the correction of the initial values of assets or liabilities, which are a source of temporary difference. In order to ensure clarity of information resulting from the financial statements not recognised assets or deferred tax liabilities on income from this type of temporary differences.

8.6. If the temporary differences have to be taken into account and part of the nieuwzględnianą when creating reserves (or assets) deferred income tax (talking about this in paragraphs 8.1. or 8.1. b.), for the determination of deferred income tax is temporary differences underlying the creation of these reserves and the temporary differences ignored by their creation.

8.7. Sometimes temporary differences on the assets or liabilities include temporary differences, referred to in paragraphs 8.1. or 8.1. b. and other temporary differences. Because the temporary differences, referred to in paragraphs 8.1. or 8.1. does not constitute the basis for recognition of reserves or assets deferred income tax, other temporary differences are taken into account in their determination, it is necessary to extract temporary differences, referred to in paragraphs 8.1. or 8.1. b. and other temporary differences. An example of such a situation when discussing the content of paragraph 9.1.

8.8. In case when taxpayer income tax is a tax group, is a part of this group shows in its separate financial statements deferred tax liability created in such a way as if this unit was taxable income tax.

8.9. If, as a result of the recognition of a given transaction are formed at the same time, differences in positive and negative about the same height, which do not affect profit or tax base, it is not considered to be a difference, which does not recognise assets and liabilities deferred tax on the basis of paragraph 8.1. b.

Example of the application of paragraph 8.9.

The content of the same as in the example following the paragraph 6.1. As a result of the conclusion of the lease agreement, the 31.12.20 X 2 r u using the temporary differences arise:-positive about fixed assets – for the amount of $140.400, is negative, the amount of $140.400 on commitments.

Although these temporary differences: a) do not represent the effect of the connection, or the acquisition of the organized part of the entity, b) are formed on the day the recognition of assets and liabilities, and at the time of the shot does not affect profit or tax base,


they do not constitute temporary differences, referred to in paragraph 8.1. b. Such differences fully neutralize. Therefore, in accordance with paragraph 8.9., these differences will be the basis for recognition of assets and of deferred income tax.

 

8.10. If, at the time of recognition of the issued (issued) financial instrument produces a positive difference, affecting the equity of the issuer (issuer), a difference that is not regarded as the differences, which are not recognised of deferred income tax on the basis of paragraph 8.1. b.

IX. The determination of deferred tax assets 9.1. Deferred tax assets shall be determined in the amount provided for in the future, to deduct from the income tax, in respect of: a) negative temporary differences, tax losses possible, b) to deduct in przyszłości28 and c) unused credits podatkowymi29.

An entity shall determine deferred tax assets in connection with all the negative temporary differences, tax losses, possible to deduct in future, (b) and the unused tax credits (c), and at the same time, make – where necessary – write-downs these assets, in accordance with paragraph 11.11. -11.20. The exception to this rule is if the temporary differences: a) relate to the amount of negative goodwill which the write-off or any other reduction does not cause an increase in the tax base, or b) arise from initial recognition in the accounts of the asset or liability as a result of a transaction that: – is not a merger or acquisition of the unit or its organized part and does not affect the tax base or profit.

9.2. The causes of deferred tax assets polandis hereby, in connection with the occurrence of deductible temporary differences, referred to in paragraph 9.1., and 9.1. b. are similar to the reasons referred to in paragraph 8.2.-8.5.

9.3. For the purposes of the determination of deferred tax assets income from partly containing temporary differences be taken into account when determining the assets or deferred tax liabilities income and partly temporary differences, are not included when determining the assets or deferred tax reserves referred to in paragraph 9.1., and 9.1., shall apply mutatis mutandis, paragraph 8.6.

Example of the application of paragraph 9.1.

In December of the year 20 x 3 unit acquired the car, the purchase price was $120,000. The Unit intends to use the car for 6 years for accounting purposes your car will be cushioned by an accelerated podwójną30. Tax laws allow for the cost of obtaining revenue car depreciation from the initial value no greater than the equivalent of € 20,000, converted to gold at the rate of the average EURO issued by the Polish National Bank of transfer the car to use. This course was £ 4.7170. For tax purposes, your car will be depreciated on a straight-line basis at the rate of 20%, without taking into account the residual value. On disposal of a car's purchase price (higher than the equivalent of 20,000 EURO, converted to gold at the rate of the average EURO issued by the Polish National Bank of transfer car to use), less made according to the principles of tax depreciation from baseline (forming and non-deductible costs is the cost of obtaining revenue). The tax rate, as at 31.12.20 X 3, is 19% and is invariant within a period of 6 years after six years (December 20 x 9) car has been disposed of for £ 10,000. In the following years, it was likely that the tax base of the unit in the future, will allow for the deduction of deductible temporary differences.

 



9.4. Ensure completeness requires recognition of deferred tax assets in connection with all the negative temporary differences, tax losses, possible to deduct from the income in the future, and unused tax credits, with the exception of the differences identified in paragraph 9.1., and 9.1. b., regardless of the anticipated evolution of income in the future. If the expected income in future periods does not allow deduction of deductible temporary differences, shall be made of an impairment of deferred tax assets. The rules for determining whether there has been a loss of assets deferred income tax is determined by points 11.11.-11.20.

9.5. If a taxable person is to tax capital group, in its separate financial statements of individuals within that Group deferred tax assets is recognised as if the unit is a participant in the Group was taxable.

9.6. If, as a result of the recognition of a given transaction are formed at the same time, differences in positive and negative at the same height, which do not affect profit or tax base, it is not considered to be differences, which on the basis of paragraph 9.1. (b) not recognised assets and liabilities deferred income tax.

X. valuation of receivables and liabilities income tax 10.1. Liability for income tax shall be measured in the amount in which the obligation arose and requires payment in the future.

10.2. Rental income tax is measured in the amount in which the amount receivable was established and is refundable or passing on future tax liabilities. If it is not likely that the entity obtains a refund, reaches the income, allowing the deduction of income tax receivables from future income tax liabilities or otherwise recover the benefits of these receivables, the impairment shall be the amount in income tax expense.

10.3. Sometimes units have income tax receivables, which may only be deducted from future income tax liability. If the emergence of such a commitment in the future is not likely to impact future benefits in respect of receivables is also questionable. In such cases, shall be made of an impairment amount of income tax.

XI. The valuation of assets and liabilities deferred tax liabilities 11.1 Height reserves and deferred tax assets income shall be determined taking into account the income tax rates applicable in the year obligation podatkowego31.

11.2. Assets and liabilities deferred tax is "deferred" and "deferred" obligations, which in the future will be converted into receivables (decrease) and income tax liability. Amount of assets and liabilities deferred tax is determined on the basis of the temporary differences which mean respectively decrease or increase the tax base in the future, as a result of past events or transactions as well as taking into account the tax losses, it is possible to deduct from the income in the future, and unused tax credits. Because the amount of reductions or increases the tax base after deductions affect reduced or increased income tax liabilities calculated using rates that are applied at the time of the taking into account of these amounts in determining taxable after deductions, these future rates shall apply to the valuation of assets and of deferred income tax.

11.3. future tax rates shall be determined on the basis of the applicable tax legislation, in so far as these rules designate the rate podatkowe32. Does not apply to the valuation of assets and of deferred income tax rates other than those specified by tax laws, even though the expectations of changes in tax rates. Such an approach is the uzasadanione, that the possibility of a reliable prediction of changes in tax rates are limited.

11.4. If the assets and deferred income tax will be converted accordingly in receivables (decrease) and income tax liability during the period for which the tax rules do not specify a tax rate, to the valuation of assets and of deferred income tax rate applies, as defined by the tax law for the last period.

 

Example of the application of paragraph 11.1.

The unit has a loan 1.07.20 X 1, in the amount of $100,000, interest at the rate of 10% on an annual basis. Interest will not be capitalized. Repayment of the loan on 30.06.20 X 4, interest payments will be made annually within 30 June. An entity qualified to loan to the category of financial assets which are loans and receivables.

Tax revenues from interest income are recognized upon receipt of interest.

In accordance with the tax laws in force in 31.12.20 X 1, income tax rate, which will be in force:-20 x 2, 28% of the tax base, – 20 x 3-24% of the tax base,-20 x 4 – 22% of the tax base.


According to the legal status on the 31.12.20 X 2 (Revision Act tax) income tax rate, which will be in force in 20 x 3, will total 27% of the tax base.

After yet another change of tax law, according to legal status on the 31.12.20 X 3 r. income tax rate, which will be in force on the 20 x 4 r will be 19% of the tax base.

 

31.12.20 X 1.

31.12.20 X 2 r.

31.12.20 X 3.

31.12.20 X 4 r.

The carrying amount of the loans with interest: 105,000 105,000 105,000 0 the tax base of the loan: 100,000 100,000 100,000 0 the tax base of the nominal value of the loans: the tax base of the proportion: 0 0 0 0 0 100,000 100,000 100,000 temporary differences: 5,000 5,000 5,000 0 deferred tax: 1.400 1.350 950 0 (5.000 x 28%)

(5,000 x 27%)

(5,000 x 19%)

 

 

11.5. If the temporary differences arise in different periods and are reversed in different periods, in which tax rates specified by tax laws are different, to determine the assets and of deferred income tax be adopted and consistently apply the method to specify the order of the reversal of temporary differences. This method applies to all temporary differences. It is recommended to use the host methods that differences emerging as the first are reversed as the first. If the reliable determination of terms of the reversal of temporary differences in the future, it is not possible to apply the solution referred to in point 11.8.33 an example of the use of paragraph 11.5.

The unit has acquired in December for $25,000, undeveloped natural used machine works. Machine for accounting purposes will be amortized on a straight-line basis over a period of 5 years, without taking into account the residual value. It is expected that after this period it will be abolished.

For tax purposes, the machine is depreciated on a straight-line basis according to the individual depreciation rate of 50%. The income tax act as of 31.12.20 X 1, provides for the following tax rates: 20 x 2, 28% of the tax base, in 20 x 3 – 24% of the tax base, in 20 x 4 – 22% of the tax base.

Changes to the income tax Act, which have been adopted in 20 x 2. have established tax rate for 20 x 3 to 27%, and the changes that have been adopted in 20 x 3, fixed the tax rate for 20 x 4, on 19%. In 20 x 4 r. no changes to the tax rate for the next years. In December 20 x 5. Unit has cut out the asset.

To determine the issue of temporary differences assume method assuming that differences emerging as the first are reversed as the first.

At 31.12.20 X 0.

31.12.20 X 1.

31.12.20 X 2 r.

31.12.20 X 3.

31.12.20 X 4 r.

31.12.20 X 5.

The carrying amount: 25,000 20,000 15,000 10,000 5,000 0 the tax base: 25,000 0 0 0 0 12,500 temporary differences: 0 0 5,000 10,000 15,000 7,500 temporary differences arising in the period: 0 7,500 7,500 (7,500-0) (15,000-7,500) temporary differences that reverses in the period concerned: 5,000 5,000 5,000 (15,000-10,000) (10,000-5,000) (5.000-0) deferred income tax: 0 1,750 4.050 1,900 950 0 (5,000 x 24% + 2.500 x 22%)

(15,000 x 27%)

(10,000 x 19%)

(5,000 x 19%)

 

 

11.6. The valuation of assets and liabilities deferred tax liabilities should reflect the tax consequences that will occur according to the expected use of the asset or settlement of obligations.

11.7. Sometimes tax implications depend on the use of the asset or settlement of obligations. It may affect the valuation of assets or liabilities deferred income tax. This is due to the fact that:-the tax base of the assets or liabilities may vary at the different ways to use them or settlement, tax rates can be different, depending on how to obtain the benefits of the asset or settlement of obligations.

In determining the assets or deferred tax liabilities take account of the need for the objective of the unit for the use of assets or settlement of liabilities and under these objectives tax effects.

11.8. If it is not possible to reliably determine the objectives of the unit for the use of assets or settlement of liabilities, which the use or settlement affect the tax, it is appropriate to adopt a solution by which: – deferred income tax is determined at the highest amount-deferred tax assets income shall be determined by the lowest amount.

11.9. The inability to reliably determine the objectives of the unit as to the use of the asset or settlement of obligations means that an entity may use the asset or settle a component of obligations in a more or less favourable tax. The desire to obtain the tax benefits may not always be stipulated procedure units, as in determining the use of assets or settlement of liabilities shall be taken into account also other considerations, for example. management issues. Therefore, there is a possibility that the assets will be used or liabilities will be settled in a less favorable tax. In accordance with the precautionary principle, in the absence of reliably established objectives of the unit to the use of assets or settlement of liabilities deferred income tax is recognised in the highest amount of a deferred tax assets income – the lowest amount.

 

Example of the application of paragraph 11.6. and 11.7.

In 20 x 3, the unit sold goods for £ 100,000. The sale is taxed at a rate of 22% for the purposes of the goods and services tax. In view of the fact that the receivable deemed uncollectible, an impairment of trade receivables in 100% of its amount.

Costs arising from impairment of trade receivables will be recognised in the future for the cost of obtaining revenue to the extent that it was considered tax revenues, IE. in the amount of $100,000 provided that the declared irrecoverable receivables will be uprawdopodobniona. The remainder of the impairment of trade receivables in the amount of $22,000 is not considered as cost of revenue.

Prima facie evidence of trade receivables depends on the activities of the same unit. If an entity will refer the application to the Court and obtains a final judgment of the court order a refund, and then the case will refer to the way of enforcement proceedings, this tax declared irrecoverable receivables is deemed uprawdopodobnioną. If the unit does not perform this action and will allow for the limitation of claims, under the provisions of tax impairment charge will not be considered deductible for income, even though the trade receivables.

Income tax rate is determined by the provisions of the tax for 20 x 4 r. is 19%.

Justification the determination of temporary differences: Although the claim does not meet the criteria designated by the definition of assets, in accordance with section 3.12. the rules for determining the temporary differences are analogous, as in the case of assets, since the amount was previously included in the books and reported in the financial statements as an asset.

The solution depends on what action the Unit intends to take.

Variant A Unit intends to refer the matter to the Court and then, in the way of enforcement proceedings; at the same time, the lack of indications showing that the claim will be rejected or for any other reason not to fulfill these intentions. Recognition of the means of payment for the uprawdopodobnioną will occur as expected in 20 x 4, at the same time of the year, as expected, the tax base will be $1 million.

 

31.12.20 X 3.

The carrying amount of the accounts receivable: $0 the tax base: $100,000 for a portion of the receivables resulting from the VAT: 0 € Justification paragraph 3.6.: the tax base = the carrying amount.

 

For the rest of the charges: £ 100,000 rationale: 3.8: (0 + 100,000) the tax base of = the carrying amount + amount that in the future will reduce the tax base, in relation to the realisation of the benefits of parts of receivables according to the carrying amount.

 

Temporary differences:-£ 100,000 deferred tax assets income: £ 19,000 variant B


Unit does not intend to refer the case to the Court and then, in the way of enforcement proceedings. This can provide a reasonable intention of an entity or information about niedoprowadzaniu in previous reporting periods to the probable trade receivables. Analogous solution is also assuming that there are significant indications to conclude that the claim is rejected or for any other reason not to fulfill these intentions.

 

31.12.20 X 3.

The carrying amount of the accounts receivable: $0 the tax base: the justification for paragraph 3.6.: the tax base = the carrying amount.

$0 temporary differences: $0 deferred tax assets: 0 $11.10. The amount of reserves and deferred tax assets income not subject to dyskontowaniu.

11.11. not later than at the balance sheet date, the entity shall determine whether there has been a loss of the value of deferred tax assets. It is considered that there has been no impairment of deferred tax assets, if it is likely that in the future will be attained income (or the tax base), allowing the deduction of deductible temporary differences, tax losses and unused tax credits.

11.12. Deductible temporary differences, tax losses, the unused tax credits, deductions in the future, indicate that, as expected, as a result of past events, you will be in the future to reduce the taxable after deductions. To the taxpayer made the benefits arising therefrom it is therefore necessary to make it likely that he reaches in the future income (or the tax base), which allows their deduction.

11.13. It is considered that it is likely that the income (or the tax base) will allow for the deduction of deductible temporary differences, tax losses or unused tax credits, if: (a)) there are sufficient taxable temporary differences, taken into account in the creation of deferred income tax, income tax paid by the taxpayer to the same tax authority, which are expected to turn: – the same periods where is the reversal of the deductible temporary differences, tax losses or unused tax deduction or – in the following periods in which it is possible to deduct tax losses from income, or b) achieving income (or the tax base) to allow the deduction of deductible temporary differences, and the deduction of tax losses and unused tax deduction or higher income (or the tax base) is more likely than getting income (or the tax base) at a lower level. Income (or the tax) shall be determined in respect of the taxpayer and the tax authority, which apply to the deductible temporary differences, tax losses and unused tax credits.

11.14. In determining whether the achievement of income (or the tax base) to allow the deduction of deductible temporary differences, tax losses and unused tax credits, or higher is more likely than getting income (or the tax base) lower, include require all available information. In paragraph 11.15. and 11.16. stated on some information, requiring consideration in this proceeding. The more convincing are indications that it is not likely or unlikely to achieve income (or the tax base), referred to in paragraph 11.13. b., the stronger must be evidence that the achievement of such income (or the tax base) is likely, what allows you to recognize that an impairment value of deferred tax assets is not necessary.

11.15. Information that can confirm that it is likely the achievement of income (or the tax base), referred to in paragraph 11.13. b. e.g. and) achieving in the last 3 years by the taxable income (or the tax base) high respectively, and net profit, provided that the entity does not expect a considerable reduction in their amount in the future; in determining this data ignores the loss resulting from extraordinary events, where the likelihood of recurrence is slim, b) that contract, which could cause the income (or the tax base) in the amount of that deduction of deductible temporary differences, tax losses and unused tax credits, taking into account that occur at the balance sheet date information on sales prices and cost structure, c) forecasts resulting from the budget (financial plan) drawn up in such a way as to establish the reliability of the data contained therein; the weight of this argument depends on whether the unit draw up similar budgets in previous years and the extent to which budgets have been realized, d) the feasibility of tax strategy, to increase income in the future, provided that it is enforceable, and Unit Manager intends to realize it.

11.16. Information that can confirm that is not likely to achieve the income (or the tax base), referred to in paragraph 11.13. are e.g.: a) take tax losses or loss determined in accordance with the accounting rules in any of the last 3 years, b) unused deductions in respect of tax losses, the right to which has been lost in the last 5 years, c) tax losses or loss determined in accordance with the accounting rules, expected in subsequent years (e.g. high income and net profit achieved in the years previous).

11.17. If in accordance with expected income (or the tax base), what will be achieved in the future, will allow for the deduction of part of the deductible temporary differences the deduction of part of the tax losses, or the deduction of part of the unused tax credits, to copy due to the loss of the value of deferred tax assets is made on the part of the value of these assets, representing items, which the deduction from income (or the tax base) in the future is not likely.

11.18. If you previously included write-downs of deferred tax assets, and as a result of changes in estimates of deduction of deductible temporary differences the deduction of tax losses or unused tax deductible in determining income (or the tax base) in the future has become likely, reduced write-downs of deferred tax assets.

 

Example of the application of paragraph 11.13.

The value of deferred tax assets income units on 1.01.20 X 3, was £ 200,000.

Due to the lack of taxable temporary differences not recognise deferred tax liabilities income 1.01.20 X 3 r.

In 20 x 3, the unit suffered a tax loss-£ 1 million. In addition, the 31.12.20 X 3, for the following temporary differences:-negative temporary differences about fixed assets-£ 700,000, is a deductible temporary differences concerning interest on liabilities – £ 200,000 – taxable temporary differences relating to the interest on the loans is $2,000,000.

How the reversal of the temporary differences are as follows: TOTAL temporary differences the reversal of temporary differences provided.

20 x 5.

20 x 6.

20X7 r.

20 x 8 r.

Temporary differences for fixed assets:-700,000-200.000-200.000-200.000-100,000 temporary differences relating to commitments:-200,000-200,000 temporary differences concerning interest on loans: 2,000,000 2,000,000 tax loss can be deducted from income in the future-1,000,000-500,000-500,000 that reverses to deductible temporary differences and tax loss deduction, less any that reverses to taxable temporary differences of 100,000-400,000-200,000 1.3 million-100,000-500,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax laws provide that the tax loss can be deducted from income over a period of 5 consecutive years, and in each of the years cannot be shrink income by more than 50% of its amount.

The income tax act by the 31.12.20 X 3, provides for the rate of 19% for the 20 x 4 r.

Taking into account the existence of tax losses and lack of positive information about the effects of the activity, it was considered that it is unlikely to achieve the income by the unit over the next 5 years.


The planned tax loss in each of the next five years is $2,000,000.

 

To determine the assets and liabilities deferred tax liabilities: deferred tax assets deferred income tax the calculation of deferred tax assets income on fixed assets: 133,000 (700,000 x 19%)

Deferred tax assets relating to commitments: 38,000 (200,000 x 19%)

Deferred income tax on the interest on loans: 380,000 (2,000,000 x 19%)

Deferred tax assets on tax loss: 190,000 (1,000,000 x 19%)

TOGETHER 361.000 380 k to determine the impairment value of deferred tax assets: the recognition of assets and of deferred income tax – posting on 31.12.20 X 3.

DT deferred tax assets rationale: see the determination of deferred tax assets; the value of the initial state deferred tax assets was equal to $200,000 161.000 (361.000-200,000) DT dochodowego34 tax Costs 219.000 CT deferred income tax rationale: see the determination of deferred income tax; the value of the initial state of deferred income tax was equal to 0 € 380,000 Shot write-downs of deferred tax assets income-post on 31.12.20 X 3.

DT Costs income tax 171.000 CT write-downs on deferred tax assets rationale: see the determination of the write-downs of deferred tax assets income 171.000 11.19. If an entity to the probable benefits arising from deferred tax assets, apply tax budget and taxable temporary differences, it sets the income shown in the budget, determine the account that takes your to temporary differences.

 

An example of the use of section 11.19.

The value of deferred tax assets income units on 1.01.20 X 7, was $1 million, and of deferred income tax is $0. At the end of 20 x 6, deferred tax assets were not covered by the accumulated impairment losses. In 20X7, the unit's income was $0. Anticipated achievement of taxable income in the 20 x 8 and 20 x 9, without effect to reverse the temporary differences in the amount of $1,000,000. Therefore, taking into account the schools to temporary differences, is expected to pay in 20 x 8 and 20 x 9, the total tax loss-£ 2,000,000.

On 31.12.20 X 7, for the following temporary differences:-negative temporary differences concerning interest on liabilities-$ 3,000,000-deductible temporary differences on duty-£ 3,000,000.

How the reversal of deductible temporary differences are as follows: TOTAL temporary differences the reversal of the temporary differences 20 x 8 r.

20 x 9 r.

Temporary differences relating to commitments:-3.000.000-3,000,000 temporary differences concerning:-3.000.000-3,000,000 that reverses to deductible temporary differences:-6,000,000-3.000.000-3,000,000 to establish deferred tax assets: deferred tax assets income calculation of deferred tax assets, commitments: 570,000 (3,000,000 x 19%)

Deferred tax assets relating to: 570,000 (3,000,000 x 19%)

TOTAL 1,140,000 Determine impairment value of deferred tax assets: recognition of assets and of deferred income tax – posting on 31.12.20 X 7.

DT deferred tax assets rationale: see the determination of deferred tax assets; the value of the initial state deferred tax assets was equal to 1,000,000 $140,000 (1,140,000-1,000,000) DT dochodowego35 tax Costs 140,000 Shot write-downs of deferred tax assets income-post on 31.12.20 X 7.

DT Costs income tax about 760.000 CT write-downs on deferred tax assets rationale: see the determination of the write-downs of deferred tax assets income about 760.000 example of section 11.19.

The value of deferred tax assets income units on 1.01.20 X 5, was £ 2,000,000, and of deferred income tax-£ 1 million. At the end of 20 x 4 r. deferred tax assets were not covered by the accumulated impairment losses. In 20 x 5. the taxable unit adjusted revenue was $100,000. It is planned to pay the tax loss-$ 2,000,000 in 20 x 6, 20X7, 20 x 8 and 20 x 9, 31.12.20 X 5, for the following temporary differences: – taxable temporary differences relating to fixed assets-$ 3,000,000-taxable temporary differences relating to the intangible – £ 6,000,000,-negative temporary differences concerning interest on liabilities-$ 3,000,000-deductible temporary differences on duty-£ 9,000,000.

How the reversal of the temporary differences are as follows: TOTAL temporary differences the reversal of the temporary differences 20 x 6.

20X7 r.

20 x 8 r.

20 x 9 r.

Temporary differences for fixed assets: 3,000,000 1,000,000 1,000,000 1,000,000 temporary differences relating to the intangible: 6,000,000 1,500,000 1,500,000 1,500,000 1,500,000 temporary differences relating to commitments:-3.000.000-3,000,000 temporary differences concerning:-9,000,000-6,000,000-3,000,000 that reverses to deductible temporary differences, less any that reverses to taxable temporary differences:-3.000.000-3,500,000-2.5 million 3.5 million 1.5 million to determine the assets and liabilities deferred tax liabilities: deferred tax assets deferred income tax deferred income tax Calculations on fixed assets: 570,000 (3,000,000 x 19%)

Deferred tax on intangible: 1,140,000 (6,000,000 x 19%)

Deferred tax assets relating to commitments: 570,000 (3,000,000 x 19%)

Deferred tax assets relating to: 1.710.000 (9,000,000 x 19%)

TOGETHER 2.280.000 1.710.000 Determine impairment value of deferred tax assets: recognition of assets and of deferred income tax – posting on 31.12.20 X 5 r.

DT deferred tax assets income 280,000 (2.280.000-2,000,000) rationale: see the determination of deferred tax assets; the initial state of the deferred tax assets amounts to $2,000,000) DT dochodowego37 tax Costs 430,000 CT deferred income tax 710.000 (1.710.000-1,000,000) rationale: see the determination of deferred income tax; the initial state of deferred tax income was £ 1,000,000 Shot write-downs of deferred tax assets income-post on 31.12.20 X 5 r.

DT Costs income tax 237500 CT write-downs of deferred tax assets income 237500 rationale: see the determination of the write-downs of deferred tax assets income 11.20. In drawing up the schedule of the reversal of positive and negative temporary differences under the account shall be taken of the intention of the unit for the use of assets or settlement of liabilities, in accordance with section 11.6. In the absence of reliable evidence as to the date of the reversal of temporary differences apply paragraph 11.8.

XII. directly increase or reduce equity. Recognition of cost or revenue from income tax


12.1. Reserves and deferred tax assets, relating to operations cleared with a capital (Fund), also refers to the capital (Fund) własny36. If an obligation or charge income tax arises in connection with the operation, billed with a capital (Fund), the effects of recognition of a liability or the amount receivable is recognised also in equity.

12.2. The effects of the determination of income tax receivables and liabilities and assets and liabilities deferred tax liabilities are recognised directly in equity (i.e., not by profit or loss) of the unit, if the transaction which is the basis for their shots is also recognised directly in equity. The cause of this behaviour is the fact that, since the effect of the transaction, event, or the valuation is not included in the profit and loss account, the tax effect of bound also should not be credited to the profit and loss account.

Example of the application of paragraph 12.1.

In 20 x 3, unit acquired the shares, classifying them as available-for-sale. Their purchase price was set at £ 1 050,000. On the 31.12.20 X 3, valued the shares at fair value IE. £ 1,500,000. Rules for the accounting policies adopted by the Unit provide for referencing effects discounts available-for-sale financial assets for revaluation.

Tax laws provide that tax revenues and costs of obtaining revenues from equity shares are recognised at the time of disposal. The income tax act by the 31.12.20 X 3, provides that for 20 x 4, the tax rate is 19%.

 

31.12.20 X 3.

The carrying amount of the investment in shares on 31.12.20 X 3: $1.5 million the tax base of the investment in shares on 31.12.20 X 3: £ 1 050,000 temporary difference: $450,000 the deferred tax: $85,500 in accordance with paragraph 12.1., recognised the deferred tax will reduce the revaluation surplus of $85,500.

 

Example of the application of paragraph 12.1.

On 1.07.20 X 3, unit acquired the bonds with a nominal value of $1 million and a maturity 31.12.20 X 6, classifying them as available-for-sale. Interest on bonds is 4% and are payable 31 December of each year. The purchase price of the bonds amounted to $920.851 (including $20,000 interest accrued at the date of acquisition). On 31.12.20 X 3, the fair value of the bonds was set at £ 950,000 (this value does not include interest paid on that date). The effects of the valuation of available-for-sale financial assets are accounted for by the equity revaluation (effective interest rate was set at 7.30%).

Tax laws provide that tax revenues interest income are recognized upon receipt. At the time of disposal of the bonds are recognised tax revenues in the amount of the balance and the cost of obtaining revenue in the amount of the purchase price (adjusted for interest included in the purchase price, if they have previously been paid). The effects of bond valuation at the balance sheet date are not while tax revenues or costs. The income tax Act provides that for the 20 x 4, the tax rate is 19%.

 

31.12.20 X 3.

The carrying amount of the investment in bonds: $950,000 the tax base of the investment in bonds: $900.851 920.851-20,000 temporary difference (positive), including: $49.149 temporary difference (positive) included in the financial result: 13,019, 08 $920.851 x (1 + 7.30%) 1/2-40,000 900.851 a temporary difference (positive) included in revaluation capital: 36.129, 92 $49.149-13,019, 08 the deferred tax: £ 31, 9.338 19% x 49.149 increasing the cost of income tax : 2,473, 63 $19% x 13,019, 08 reduction in revaluation capital: 6.864, 68 $19% x 36.129, 92 in accordance with paragraph 12.1., recognised the deferred tax in the amount of $31, 9.338 will reduce the revaluation amounting to 6.864, 68 and will increase the cost of the income tax at 2,473, 63.

 

12.3 affecting profit or income tax for a particular reporting period includes: and) part of the current, (b)) part of the odroczoną37.

12.4. The effects of the recognition and valuation (including of impairment losses) income tax receivables and liabilities, assets and of deferred income tax and accrued income from the premium investment is recognised in the profit and loss account, with the exception of effects: and) recognition of receivables and liabilities from income tax and assets and of deferred income tax in connection with the events directly affecting the capital (Fund) own, referred to in paragraph 12.1. subject to paragraph 12.5., b) changes in the tax laws, in respect of temporary differences relating to the transactions that affected the revaluation referred to in paragraph 12.5. and 12.6., c) reference impairment assets from deferred tax on revaluation, as referred to in paragraph 12.7., d) impairment assets deferred income tax, as referred to in paragraph 13.3., e) deductions from tax or refund taxable unit in any other form of tax levied by the payer, when together with the deduction or refund is followed by a reduction in the carrying amount of the asset.

f) recognition of receivables and liabilities from income tax and assets and of deferred income taxes, in connection with the merger or the acquisition of a unit or its organized part (see paragraph 15.2, 15.4.), g) be included in the consolidated financial statements of assets and liabilities deferred tax liabilities in connection with the inclusion of the data unit to the consolidated financial statements by the full or proportional (see paragraph 16.2. , 16.4-16.6.).

12.5. If as a result of changes in the tax laws, there is a change in tax rates to be applied in the future, or the determination of tax rates for the years for which the law does not specify the date of the rates, the impact of these changes is taken into account during the reporting period, in which there has been a change in the rules. The effects of the valuation of assets and of deferred income tax according to the changed tax rates are recognised in the profit and loss account, with the exception of the effects of the valuation of these assets and liabilities, which, in accordance with paragraph 12.1., have been included in the capital revaluation. The effects of the valuation of these assets and liabilities according to the revised rates are also related to revaluation.

12.6. Paragraph 12.5. shall apply mutatis mutandis to the changes in the value of tax obligations and rights (including tax losses deductible from income in the future), referred to in paragraph 5.1., resulting from changes in tax laws.

12.7. The status of the write-downs of deferred tax assets income accounts for between a) revaluation – in part, in which the deferred tax assets income, which refers to the network, participate in the aggregate amount of deferred tax assets income, b) profit and loss-in the rest.

Example of the application of paragraph 12.4.

United States assets and of deferred income tax on the beginning and the end of the 20 x 3 were in the separate financial statements of the company OMEGA S.A.: 1.01.20 X 3 r.

31.12.20 X 3.

Deferred tax assets, including: 3,000,000 8,000,000 Assets deferred income tax, on investments measured at fair value (the revaluation differences included in revaluation capital): 2,000,000 3,000,000 Assets deferred income tax, for the remaining operations: 1 million 5 million deferred income tax, including: 2,000,000 7,000,000 deferred income tax, on investments measured at fair value (the revaluation differences included in revaluation capital) : 1,000,000 3,000,000 deferred income tax, for the remaining operations: 1,000,000 4,000,000 in fiscal year 20 x 3 was a liability for income tax (referred in the whole of the cost of the tax), in the amount of $10 million.

In the fiscal year 20 x 3 OMEGA S.A. does not associate with other companies, not purchased other units or their organized parts. OMEGA S.A. does not use in the years prior, or in the current year with premium.

The total amount of income tax costs in 20 x 3:9,000,000 10,000,000-(5 million-1,000,000) + (4 million-1,000,000) the amount of the adjustment resulting from the revaluation of capital assets or deferred tax liabilities income made in 20 x 3:-1 million (3,000,000-2,000,000) (3,000,000-1,000,000) example of the application of paragraph 12.4.


For making the financial statements for the year 20 x 3, completed on 31.12.20 X 3, it has been established that the entity formed provisions for employee benefits, arising out of the approved Jubilee rewards and check-in. Because of the amounts of those benefits, it was concluded that this error must be cleared by the financial results of the years ubiegłych38.

To properly settle the consequences of the error, it was established as follows: 20 x 2.

20 x 3.

The provision for employee benefits at the beginning of the period: 21.800.000 20 million to increase reserves for interest: 1,600,000 1.308.000 Increase the reserves for actuarial losses: 2.280.000 954.400 Reduce the reserves for outstanding benefits: 2.080.000 1.112.400 provision for employee benefits at the end of the period: 21.800.000 22.950.000 at 31.12.20 X 1. employee benefits of the carrying amount of $2,000,000 will be paid in 20 x 2, and employee benefits of the carrying amount of $1,000,000 – 20 x 3.

In order to take into account the provisions for employee benefits in the financial statements drawn up to 31.12.20 X 3, in the accounts included a provision in the amount of $22.950.000, and reduced the financial result for the year 20 x 3 the amount of € 1.150.000 (1.308.000 + 954.400-1.112.400), the remaining amount IE. £ 21.800.000 to the result from previous years. In the financial statements for 20 x 3, provides comparability of financial statements for 20 x 2, 20 x 2 for the result by reducing the amount of 1.8 million (1.6 million + 2.280.000-2.080.000), the remaining amount IE. $20 million to the result from previous years.

Covered employee benefit reserve were the basis for the recognition of deferred tax assets. There was no creation of any additional temporary differences, due to the recognition of provisions for employee benefits.

The income tax act as of 31.12.20 X 1, provided for the following tax rates: 20 x 2, 28% of the tax base, in 20 x 3 – 24% of the tax base.

from 20 x 4 – 22% of the tax base.

Revision of the income tax Act, which was adopted in 20 x 2, established the tax rate for the 20 x 3 to 27%. At the same time changing the law, removed the rate of 22%, specific for the 20 x 4, Revision of the income tax Act, which was adopted in 20X3r, set the tax rate for 20 x 4, on 19%.

To recognise deferred tax effects for error is established as follows: 31.12.20 X 1.

31.12.20 X 2 r.

31.12.20 X 3.

The tax base: 0 0 0 carrying amount: 20,000,000 21.800.000 22.950.000 temporary differences (negative):-20,000,000-21.800.000-22.950.000 income tax rate: for the temporary differences reverse: 27% 19%-20 x 2.

– 28%,

 

 

– 20X3 r.

– 24%,

 

 

– 20X4 r.

-22% of the deferred tax assets: 4.540.000 28% x 2,000,000 + 24% of the 1,000,000 + 22% x 2 (20,000,000-3,000,000) 5.886.000 27% x 21.800.000 4.360.500 19% x 22.950.000 in the accounts and financial statements for 20 x 3, is recognised deferred tax assets income the amount of $4.360.500, thereby increasing tax costs for the year 20 x 3 of 1.525.500 (5.886.000-4.360.500) and including the amount of $5.886.000 to the result from previous years : DT deferred tax assets income 4.360.500 DT Costs income tax 1.525.500 CT financial result from previous years 5.886.000 in the financial statements for 20 x 3, you must ensure the comparability of the financial statements for 20 x 2, by reducing the cost of the tax for 20 x 2, the amount of $1.346.000 (4.540.000-5.886.000) and passing the remaining amount IE. 4.540.000 to the result from previous years. This adjustment is followed by pozaksiegowo.

Deferred tax assets on the income 31.12.20 X1r, 31.12.20 X 2, and X 3 31.12.20, shall be subject to verification in order to determine whether or not there has been a loss of their values.

 

Example of the application of paragraph 12.5.

In December 20 x 0, the unit has acquired the building used for the purposes of the General management for 1,000,000).

The building will be depreciated on a straight-line basis over a period of 20 years. It is expected that after this period will be disposed of for $600,000. The annual depreciation is $20,000 for tax purposes, the building is depreciated on a straight-line basis at the rate of 2.5% (depreciation of the annual £ 25,000). The income tax act by the 31.12.20 X 0, provides for the following tax rates: in 20 x 1,-28%, in 20 x 2, 28%, in 20 x 3 – 24%, from 20 x 4-22%.

With the Change of the income tax Act have the following tax rates:-change enacted in 20 x 2. set tax rate for 20 x 3-27%; at the same time changing the law removed the rate of 22%, specific for the 20 x 4 r.

-change enacted in 20 x 3, set the tax rate for 20 x 4-19%,-changes enacted in 20 x 4 and in the following years, specify the tax rate for the next years on 19%.

The taxable amount after deductions in each of the periods concerned (without taking into account the depreciation of the building) was £ 200,000. In addition to temporary differences relating to the building, there are other temporary differences.

 

31.12.20 X 1.

31.12.20 X 2 r.

31.12.20 X 3.

31.12.20 X 4 r.

31.12.20 X 5.

31.12.20 X 6 r.

The carrying amount: 980.000 960.000 940.000 920,000 900,000 880.000 tax base: 975.000 950.000 925.000 900,000 875.000 850,000 temporary differences: 5,000 10,000 15,000 20,000 25,000 30,000 deferred tax: 1.100 2,700 2.850 3,800 4.750 5.700 (the reversal of the temporary differences will occur on the sale of the building) (5,000 x 22%)

(10,000 x 27%)

(15,000 x 19%)

(20,000 x 19%)

(25,000 x 19%)

(30,000 x 19%)

Change the status of deferred income taxes: 1.100 1.600 150 950 950 950 in this change of deferred tax income as a result of the creation of temporary differences: 1,100 (22% x 5.000) 1.350 (27% x 5.000) 950 (19% x 5.000) 950 (19% x 5.000) 950 (19% x 5.000) 950 (19% x 5000) in the change of deferred tax due to changes in tax rate: 0 250 (27%-22%) x 5.000-800 (19%-27%) x 10,000 0 0 0 taxable after deductions : 175,000 (200,000-2, 5% x 1,000,000) 175,000 175,000 175,000 175,000 175,000 tax liability arising in subsequent years: 49,000 49,000 47.250 33,250 33,250 33,250 Costs income tax: 50.100 50.600 47.400 34.200 34.200 34.200. Investment bonuses 13.1. Sometimes tax provisions provide that in the case of acquisition or manufacture of certain assets, the taxpayer has the right to make deductions from income, deductions from the tax base or tax or to recognize certain amounts for the cost of obtaining revenue. Tax solutions of this type can be divided into two groups: a) solution, which is accompanied by a reduction in the value of tax acquired or manufactured assets; This type of tax solutions take the form of accelerated depreciation made for tax purposes, IE. the total amount of the reduction of the tax base after deductions is analogous, as in the case of non-compliance with this type of solution, however, reduce these are recognised to a greater extent in the early periods, and less in later periods; principles for recognising the effects of this type of tax solutions are analogous to the rules take into account other temporary differences and were presented in the previous chapters, b) solutions which are not accompanied by a reduction of the tax value of acquired or manufactured assets; This type of solution is tax subsidies and investment incentives are called.

13.2. If an entity uses the investment premium, reduce income tax liabilities as a result of their use are recognised and measured in accordance with the rules applicable to the recognition and measurement of grants, subsidies or aid, to finance the acquisition or production of fixed assets or perform development work. Temporary differences for accrued revenue, falling as a result of the settlement of the investment premium, shall not constitute grounds for the recognition of deferred tax assets.


13.3. If you use a premium investment is also recognised deferred tax asset related to the income tax-free nieodliczonymi in the tax year, and reductions of the tax base, nieodliczonymi in the tax year and moved to a deduction in the following years (as further provided for in chapter V of the tax value of the items not included in the assets and liabilities. Determination of temporary differences relating to these items. Tax loss possible to deduct from the income in the future. Unused tax credits). The deferred tax asset shall be tested for impairment in case of loss of value occurs in parallel write-off such międzyokresowych clearing income from investment premium for which grant no longer occurs.

Example of the application of paragraph 13.2.

15.12.20 X 8 r. Y SP. z o.o. acquired new technologies within the meaning of the Act on income tax from legal persons and introduced them to the records of fixed assets and intangible assets. 20.12.20 X 8. Unit paid for these technologies £ 2,000,000. In December 20 x 8, unit won the right to deductions related to spending on new technologies. Tax laws provide that expenditure on the acquisition of new technologies are reducing the taxable amount equivalent to 50% of the expenditure incurred by the taxpayer, included in the initial value in so far as was paid in the tax year in which the new technology was introduced to records of fixed assets and intangible assets. That reduction does not reduce the value of the tax component of intangible assets.

In the case where the amount of the tax base, does not allow you to deduct expenses related to the acquisition of new technologies, reduction in the tax base can be made within the next three fiscal years in the amount of not more than 50% of the expenditure.

The carrying amount of the new technology at the balance sheet date 31.12.20 X 8: £ 2,000,000, the tax base of the new technology at the balance sheet date 31.12.20 X 8: £ 2,000,000 temporary difference: $0 accrued income in connection with the investment bonus on balance sheet date 31.12.20 X 8:190.000 € (50% x 2,000,000 x 19% = 190 000).

The equivalent of the accrued revenue increases income tax costs.

Option and the tax base of the company in the current year, allows for the deduction of the amount of expenditure for the acquisition of new technologies.

In determining the taxable after deductions, the company s reduces the size of the tax base by the amount of $1,000,000. The result is:-the recognition of accrued income deferred income tax and income tax expenses in the amount of $190,000, is the recognition of income tax liability; This commitment is lower by $190,000, take account of the expenditure for the acquisition of new technologies.

The combined effect include a reduction in the tax base, the expenditure on the acquisition of new technologies, does not affect the company's income tax costs.

Option B the taxable company, allows you to deduct expenses related to the acquisition of new technologies. There is no evidence to suggest the ability to recover in the future benefit of deferred tax assets.

Company:-recognises deferred income and income tax expenses in the amount of $190,000, – is recognised deferred tax assets in the amount of $190,000 (as the product of the tax rate and the amount of the reduction of the tax base) and reduce the cost of income tax – performs the test for loss of the value of assets deferred income tax (no tax base to deduct expenses related to the acquisition of new technologies is a prerequisite for the loss of value of deferred tax assets). In the case of impairment of deferred tax assets income company s recognised impairment of deferred tax assets and income accruals and income from investment premium.

 

Example of the application of paragraph 13.2.

S SP. z o.o. in 20 x 9, started its activity on the territory of the special economic zone. In accordance with the regulations in force and allowing the pursuit of economic activities in the zone, an entity may recognise as income tax free investment in fixed assets and intangible assets and on the leasing of land and buildings in 50% of the expenditure on these assets. Expenditure on fixed assets and intangible assets amounted to in 20 x 9.5 million.

Due to the fact that, in the case of investment expenditure the criteria designated by the definition of the investment premium, are to be accrued revenues in the amount of the premium (i.e. in the amount of 50% x 5,000,000 x 19% = £ 475,000) and increased income tax expenses. This applies regardless of whether the unit S derives income or incur tax loss.

Variant A in determining the tax base for the year 20 x 9 will meet S takes into account deduction of income tax free, related activities in special economic zones.

In determining the tax base of the company S followed by a deduction of income tax free and thus, indirectly, reduce income tax liabilities. The result is:-the recognition of accrued income deferred income tax and income tax expenses in the amount of $475,000, – recognition of income tax liabilities, taking into account income tax free; This commitment is smaller, at $475,000, take into account the income free of tax.

The combined effect include tax free income does not affect the cost of the income tax of the company S.

Variant B, the company S it is not possible to take account, in determining the tax base, tax free income, related to activities in special economic zones. Tax free income will be taken into account in determining the tax base in subsequent tax years. There is no evidence to suggest the ability to recover in the future benefit of deferred tax assets.

Company:-recognises deferred income and income tax expenses in the amount of $475,000.

-deferred tax assets recognised in the amount of $475,000 (as the product of the tax rate and the amount of tax free income, deductible in future tax years) and reduce the cost of income tax – performs a test for impairment of deferred tax assets (lack of deductibility of income tax free is a condition that indicates a loss of the value of deferred tax assets). In case of loss of the value of deferred tax assets, the company S reduces the accrued income from bonuses.

 

Example of the application of paragraph 13.2.

K SP. z o.o. in 20 x 9, started its activity on the territory of the special economic zone. In accordance with the regulations in force and allowing the pursuit of economic activities in the zone, an entity may recognise as income tax free investment in fixed assets and intangible assets and on the leasing of land and buildings in 50% of the expenditure on these assets (However, in the tax year has not incurred expenditure on these assets). At the same time an entity is entitled to exemption of income, in the amount of 50% of the two-year labour costs of workers recruited in the enterprise. Labour costs of these workers in the current year amounted to $4,000,000. The maximum amount of the exemption of income is 50% of the value of the fixed assets or intangible or two-year labour costs of employees recruited, depending on which one is higher. Income tax rate is 19%.

Due to the fact that you are not satisfied the criteria set by the definition of the investment premium, the effects of the exemption income are not recognised as accrued revenue. So if K SP. z o.o. derives income, income in the amount of $2,000,000 will reduce the cost of income tax and income tax liabilities in the amount of $380,000. If the company K does not reach the taxable income, deferred tax assets recognised in the amount of $380,000, and reduce the cost of income tax. Then K tests for impairment of deferred tax assets (lack of deductibility of income tax free is a condition that indicates a loss of the value of deferred tax assets).

In case of loss of the value of deferred tax assets, the company S recognised income tax costs.

 

Example of the application of paragraph 13.2.


The company of SA started in 20 x 9 r. activities within the special economic zone. In accordance with the regulations in force and allowing the pursuit of economic activities in the zone, an entity may recognise as income tax free amount equal to 50% of the expenditure on fixed assets and intangible assets and the lease of land and building. The rental of land and buildings is for SA operating leases, there are incurred while the expenditure for the acquisition or construction of fixed assets constituting the assets of the entity. Expenditure on rental of land and building in 20 x 9, $2,000,000. Income tax rate is 19%.

Due to the fact that you are not satisfied the criteria set by the definition of the investment premium (expenses are not related to the included asset), the effects of the exemption income are recognised in the period in which the exemption. Therefore, if a company would have reduced income in 20 x 9, included to reduce the cost of income tax in the amount of 190.000 € (50% x 2,000,000 x 19% = £ 190,000), as a result of a reduction in income tax liabilities. If a company does not reach the taxable income, deferred tax assets recognised in the amount of $190,000 and reduce the cost of income tax. Then the test shall be carried out on the loss of the value of deferred tax assets (lack of deductibility of income tax free is a condition that indicates a loss of the value of deferred tax assets). In case of loss of the value of deferred tax assets, the company S recognised income tax costs.

 

Example of the application of paragraph 13.2.

On the day of 15.12.1995. Unit acquired the machine with a start value of £ 1,000,000. According to the provisions of the unit has: a) in 1995, once deductions from income in the amount of $1,000,000, with investment incentives; as a result of use of the relief unit has lost the right to smooth out the asset for tax purposes, (b)) in 1996, deductions from income in the amount of $1,000,000 with the investment premium, the deduction from income an amount equal to the deductible from income in respect of relief from the previous year.

Tax effects of investment relief cause shot by unit of deferred income tax, arising from the positive difference between the carrying amount and the tax base of the asset. For accounting purposes, the machine is amortized on a straight-line basis at the rate of 5%, without residual value. Therefore, the carrying amount of the machines on 31.12.2003, amounted to $600,000 (£ 1,000,000-8 x 5% x $1,000,000). Because the tax base of the machine was 0, deferred tax reserve was established on the 31.12.2003 in the amount of $ from silver.AG/en/(600,000 złx119%).

The tax effects of the investment premium have been included by the unit in the financial statements for 1996, to reduce the cost of the tax. The rate of income tax, under the income tax Act, amounted to 40% in 1996.

In preparing the financial statements for 2003, the unit made the conversion of the financial statements in order to take account of the effects of the investment premium. Unit on 31.12.2001, 31.12.2002 and 31.12.2003, did not have products that are depreciation costs of the machine.

Established saving for investment premium: 1,000,000 x 40% = $400,000 because the investment bonus is, in accordance with paragraph 13.2., accrued revenue that are recognised and measured in accordance with the rules applicable to the recognition and measurement of grants, subsidies and aid, to finance the acquisition or production of fixed assets or the implementation of development work, it should be amortized in parallel to the depreciation. The value of the copies of the premium for the period 01.01.1996-31.12.2002 amounted to 140,000 (7x5% x $400,000). A copy of the premium for the 2003 amounts to £ 20,000 (400,000 złx5%).

To transform the financial statements shall be made the following entry in the accounts of 2003: DT financial result from previous years 260,000 (400,000-140,000) CT Costs income tax of 20,000 CT Settlement interim revenue 240,000 at the same time, ensure the comparability of the financial statements for 2002, in the financial statements for 2003.

In accordance with paragraph 4.7. recognition of investment premium as accrued income gives rise to temporary differences relating to the items in the balance sheet, since the investment, the amount of the premium, odpisywanej on the financial result in the coming years, there will be a tax revenue. In accordance with paragraph 13.2. These temporary differences are ignored when determining the deferred tax assets.

 

XIV. Offsetting of receivables and liabilities from income tax and assets and of deferred income tax of 14.1. In the financial statements of the offsets of receivables and liabilities with income tax except where: (a)) an entity has the right to set-off of receivables and liabilities from income tax, and (b)) intends to deduct debt and liability for income tax.

Example of the application of paragraph 14.1.

24.02.20 X 4 r. the unit has established an overpayment of income tax in the tax return, for 20 x 3, in the amount of € 2.300.000. The unit does not have any tax arrears or current tax liabilities. In the quarterly financial statements, drawn up on the 31.03.20 X 4, unit also took into account a liability for income tax in the amount of $4.800.000.

In accordance with the provisions of the overpayment is known on account of tax arrears, including interest and against current tax liabilities. In their absence the overpayment shall be recovered from the Office within 3 months from the date of filing. However, if the taxpayer submits a request for credit of the overpayment in full or in part against the future tax liability, or part of it will be used in this way.

Offsetting assets and liabilities income tax depends on the intent of the unit.

Variant A: Unit applied for passing the overpayment resulting from the testimony for the 20 x 3, against future tax liabilities. Therefore, it presents a liability for income tax 31.03.20 X 4, in the amount of $2.5 million (£ 4.800.000-2.300.000 €).

Option B: unit not submitted an application for credit the overpayment resulting from the testimony for the 20 x 3, against future tax liabilities. Therefore, it presents a liability for income tax, set at 31.03.20 X 4, in the amount of $4.800.000 and payment resulting from overpayment in the amount of € 2.300.000. Because the conditions referred to in paragraph 14.1., have not been met, the amount payable and the obligation shall not be subject to offsetting.

Variant C: unit filed for the credit part of the overpayment resulting from the testimony for the 20 x 3, against future tax liabilities. In this case, the solution set out in variant A applies to that part of the overpayment, which shall be set off against the future tax liability, and the solution set out in variant B-to the rest of the overpayment.

Example of the application of paragraph 14.1.

15.03.20 X 4 r. Unit of ALFA SA, has established a liability for income tax in the annual tax return, for 20 x 3, in the amount of $5.600.000. To 31.03.20 X 4, this commitment has not been regulated by the ALFA S.A.

The subsidiary ALFA S.A.-BETA S.A., whose data are included in the drawn up by ALFA S.A. consolidated financial statements by the full, 24.03.20 X 4 r. tax for 20 x 3, by setting it in an overpayment of income tax in the amount of $2.110.000. The overpayment was not returned to the unit by the end of March 20 x 4 r. For the period X 4 1.01.20-31.03.20 X 4 r. the established tax loss. During this BETA S.A. does not paid any advance on income tax.

The company ALFA S.A. is a public company. Therefore, it is required to draw up a 31.03.20 X 4 r. quarterly consolidated financial statements.

Because the income tax obligation ALFA S.A. may not be deducted from the overpayment, determined by the BETA S.A., are not met the conditions referred to in paragraph 14.1. Therefore, in the quarterly consolidated financial statements, drawn up on the 31.03.20 X 4, income tax assets and liabilities is presented without compensating them.

 

14.2. The reserve and deferred tax assets are recognised in the balance sheet separately. Reserve and assets can be offset if the entity has a title that entitles it to simultaneously take into account in calculating the amount of the obligation podatkowego39. It is considered that an individual has to simultaneously take into account assets and of deferred income taxes in determining tax liability, if: (a)) shall be entitled to set-off of receivables and liabilities from income tax, and


(b)) the assets and liabilities deferred tax liabilities relate to income tax levied by the same tax authority on: – the same taxable entity, or different taxpayers who are eligible and intend to apply income tax assets and liabilities on a net basis or realise and settle income tax liability.

14.3. Offsetting or niekompensowanie assets and liabilities deferred tax is subject to the principles of the accounting policies adopted by the enterprise. An entity may not offset assets and of deferred income tax or compensate for the assets and deferred income tax according to the rules set out in paragraph 14.2.

14.4. in the event of the adoption of the principles of accounting policy of offsetting assets and of deferred income tax assets are subject to netting agreements – after taking into account the write-down for impairment – with reserves.

14.5. In the light of the solutions adopted in the provisions of the income tax Act, the assets and deferred income tax can be compensated in its separate financial statements, unless the units have no establishments, within the meaning of the agreements or conventions for the avoidance of double taxation with respect to taxes on income, outside the territory of the Republic of Poland. In its consolidated financial statements provided in the netting of assets and of deferred income tax, about the different units is to extend these tax units holding company.

Example of the application of paragraph 14.2.

In the financial statements, drawn up on the day of the 31.12.20 X 3 r., the GIGA S.A. has established assets and deferred income tax the amount of $15 million, respectively, and $23.000.000. The company does not have outside the territory of the Republic of Poland of establishments within the meaning of the agreements or conventions on avoidance of double taxation with respect to taxes on income.

Netting of assets and liabilities deferred tax is subject to the rules in accounting policy unit.

Variant A: If an entity has adopted the principle of accounting policy consisting of niekompensowaniu of assets and of deferred income tax assets and liabilities are not compensated. The Unit presents, therefore, deferred tax assets in the amount of $15 million, and deferred income tax in the amount of $23.000.000.

Rationale: in accordance with paragraph 14.2. the unit has the right to niekompensowania assets and of deferred income tax.

Option B: If an entity has adopted the principle of accounting policy consisting in offsetting assets and of deferred income tax assets and liabilities are netted. The Unit presents, therefore, deferred income tax in the amount of $8,000,000.

Rationale: in accordance with paragraph 14.2. the unit has the right to offset any assets and of deferred income tax, if he holds entitles it to simultaneously take into account in calculating the amount of tax liability. Unit has a title within the meaning of paragraph 14.2, because: a) the entity is entitled to set-off of receivables and liabilities from income tax because of the way the determination of tax liability; in the income tax act is assumed to be the determination of income from all sources, which limits the possibility of the receivables and liabilities from income tax; in cases where such assets and liabilities can occur (in the preparation of interim financial statements by establishing royalties arising from deductions from income tax in respect of shares in the profits of legal persons), the taxpayer usually has the right to set-off of receivables and liabilities from income tax (subject to sometimes from the submission of the relevant application); Therefore, this condition is met;

(b)) the assets and deferred income tax apply to the taxpayer and derive from the tax imposed by the legislation of the Republic of Poland.

 

Example of the application of paragraph 14.2.

In the financial statements, drawn up on the day of the 31.12.20 X 3 r., the GIGA S.A. has established assets and deferred income tax the amount of $15 million, respectively, and $23.000.000. At the same time, a subsidiary of GIGA S.A.-HATE S.A. (established on the territory of the Republic of Poland) included in a consolidation method of full, established assets and deferred income tax of £ 10 million and £ 5 million. GIGA S.A. and HATE S.A. does not constitute a tax group. The company does not have, within the meaning of the agreements or conventions for the avoidance of double taxation with respect to taxes on income, outside the territory of the Republic of Poland.

Netting of assets and liabilities deferred tax is subject to the principles of the accounting policies adopted by the unit.

Variant A: If for the consolidated financial statements accounting policy policy was adopted consisting of niekompensowaniu of assets and of deferred income tax assets and liabilities are not compensated. In the consolidated balance sheet are presented, therefore, deferred tax assets income the amount of $25,000,000 and deferred income tax the amount of $28 million.

Rationale: in accordance with paragraph 14.2. for making the consolidated financial statements the Group has the right to niekompensowania assets and of deferred income tax.

Option B: If for the consolidated financial statements accounting policy rules have been adopted which offsetting assets and of deferred income tax assets and liabilities are offset only to the extent to which the Group has the title-granting it to simultaneously take into account in calculating the amount of tax liability. In the consolidated balance sheet are presented, therefore, deferred tax assets in the amount of $5 million and deferred income tax in the amount of $8,000,000.

Rationale: in accordance with paragraph 14.2. the assets and deferred income tax can be compensated within the individual financial statements (an exception applies to assets and liabilities arising from the income taxes imposed by different tax authorities). However, the assets and deferred income tax, about the different taxpayers may not be compensated because the conditions are not met, referred to in paragraph 14.2.

 

Xv. The Connection. The acquisition of the entity or its organized part of 15.1. The principles set out in the previous chapters apply to combinations, taking into account the explanations contained in this chapter.

15.2. The day of the invoice the purchase method connection is fixed assets and deferred income tax, on the entity acquired. The value of these assets and liabilities is taken into account when determining the net asset value of the entity transferred, and indirectly by determining the value of the company.

15.3. The day of the invoice the purchase method connection shall be deferred tax assets relating to the transferee entity from which to obtain benefits in the future has become, in accordance with paragraph 11.11. -11.20, likely as a result of that connection. The value of these assets reduces the cost of income tax.

15.4. If, on the day the invoice connection method of acquisition: a) established a positive goodwill, not taking into account the deferred tax assets of the acquiree, because they were covered by accumulated impairment losses, and b) after the date of connection, but not later than the end of the fiscal year, in which connection, information was obtained about the circumstances that occur on the day of the call, providing you the benefit of deferred tax assets concerning of the acquiree, the resulting because of the increase in the value of deferred tax assets income reduces the value of the company. The adjustment resulting from this title may not bring goodwill to an amount less than the 0.


15.5. If, on the day the invoice connection method unitings of interests established the value of deferred tax assets income without impairment, which was canceled due to the connection, and in previous periods of these assets (i.e. assets deferred tax assets, arising from the same temporary differences) was impairment, financial statements for prior periods presented for comparison purposes, must be corrected to eliminate created no impairment. If the result of the pooling of interests method using connections, connections established impairment assets deferred income tax, it is assumed that the copies are all deductible temporary differences, referred to on this day, in proportion to the share in the total of their value. In this case, presented for comparison purposes, the financial statements for prior periods should be adjusted accordingly provided that the allowances should cover part of the value of deferred tax assets, arising from the same temporary differences.

15.6. the rules referred to in paragraph 15.1. -15.5. shall also apply accordingly to the acquisition of units or parts thereof.

XVI. Consolidated financial statements corporate groups. The valuation of shares in units subordinated in its separate financial statements 16.1. The principles set out in chapters I-XIV shall apply respectively to the consolidated financial statements with consolidating units by full or by proportionate consolidation and valuation of shares equity method in individual or consolidated financial statements, taking into account the explanations contained in this chapter.

16.2. The day of the control is determined by the assets and deferred income tax on the subsidiary. The value of these assets and liabilities shall be taken into account in determining the net asset value of this unit and, indirectly, in determining the value of the company and the capital.

16.3. The day of the control is determined by the deferred tax assets relating to the parent from which to obtain benefits in the future has become, in accordance with paragraph 11.11. -11.20, likely as a result of this event. The value of these assets reduces the cost of income tax.

Example of the application of paragraph 16.2. and 16.3.

Joint-stock company D acquired the 31.12.20 X 3, 80% of the shares of a public limited liability company with for the price of $3.2 million. The balance sheets of both companies on 31.12.20 X 3, is shown below: (D) A.

Non-current assets and 2,000,000 7,000,000.

Intangible 962.000 0 II.

Tangible fixed assets 2.800.000 2,000,000 III.

Long-term investments 1.

Long-term financial assets a in affiliated) – 3.2 million shares 0.

Long-term accruals 1.

Deferred tax assets income 38,000 0 B.

Current assets 5 million and 1.5 million.

The stocks of 1.

300,000 1,000,000 materials 2.

700,000 2,000,000 products II.

Claims 1.5 million 200,000 III.

Short-term investments 500,000 300,000 TOTAL ASSETS of 12 million 3.5 million LIABILITIES (D) from A.

Equity 9,000,000 and 2.5 million.

Capital 6,000,000 2,000,000 II.

Capital reserve 2,500,000 250,000 III.

Other reserves 200,000 100,000 IV.

Net profit (loss) 300,000 150,000 (B).

Liabilities and provisions for liabilities and 1,000,000 3,000,000.

Provisions for liabilities 1.

The deferred income tax 0 11,400 II.

Long-term liabilities 1.

To other units and) loans and borrowings 1,000,000 800,000 III.

Current liabilities to other units 1.

To other units and) in respect of supplies and services 188.600 2,000,000 TOTAL LIABILITIES 12 million to 3.5 million in the separate financial statements of the company (D) long-term investments in stocks are valued at cost, less any impairment loss values.

Deferred income tax, which derive from the individual financial statements of, arise from the different rates of depreciation used for accounting purposes and for tax purposes. For accounting purposes the machine, purchased by the company in December 20 x 0, for $200,000, is cushioned on a straight-line basis, without the final value, assuming a 10-year period of use. For tax purposes this machine is amortized on a straight-line basis, without the final value, at a rate of 20%. The income tax act by the 31.12.20 X 3, provides a 19% tax rate for 20 x 4 r.

In the separate financial statements of the company with demonstrated the following temporary differences, and deferred income tax, on the machine: 31.12 3.

The purchase price of the machine 200,000 Depreciation for accounting purposes 60,000 carrying machine 140,000 purchase price of 200,000 machines a remission for tax purposes, the tax base of 120,000 machine 80,000 60,000 temporary difference tax rate 19% of the deferred income tax, set at 31.12.20 X 3, in the separate financial statements of the company: 11,400 (19% x 60000) the company (D) in the previous fiscal year (20 x 2) suffered a tax loss-£ 200,000 , deductible within 5 years in the amount of not more than 50% in one year. Due to the fact that in the previous fiscal year have not been met the criteria referred to in paragraph 11.13., entity recognised impairment value of deferred tax assets.

In the financial year the company's income totalled D 20 x 3 0. To this, that the company will produce for the company (D) components that previously the company (D) their written pleadings from the foreign vendor after a relatively high price, the cost of company D will be in the following years, the substantial reduction. In 20 x 3, also includes a number of agreements with customers, which in the following years, taking into account cost structure which takes into account the new provider, will allow you to achieve great results and high tax base. Therefore, taking into account the data resulting from the budget, it was considered that the criteria set out in paragraph 11.13. have been met as a result of placing the control of Z40 and loss suffered by the company D will be deducted from income in the next 2 years: 20 x 3.

The deductible loss: 200,000 tax rate: 19% deferred tax assets income 31.12.20 X 3:38,000 (19% x 200,000) information about book value and the fair of the assets and liabilities of the company of the 31.12.20 X 3, is as follows: fair value book value difference of fixed assets 1.990.000 2,000,000-10,000 current assets 2.150.000 1,500,000 650,000 liabilities and provisions for liabilities (without of deferred income tax) 688.600 988.600-300,000 Differences between the fair value and the book value of the assets and liabilities arising from the valuation :-machines at fair value (the difference concerning the assets) less than the carrying amount (fair value of the machine is $130,000, and book value-$ 140,000; at the same time, in accordance with the conditions set out, the tax base of machinery amounted to 80,000), – products at fair value (the difference concerning current assets) is higher than the carrying amount,-long-term liabilities for fixed-rate loan at fair value (the difference concerning liabilities and provisions for liabilities) is lower than the carrying amount; interest and the instalment of capital from these obligations will be paid starting from 20 x 5.

 

The determination of deferred income tax assets relating to the units covered by the fair value of the Machine: the machine: 130,000 the tax base of the machine: 80,000 temporary difference (positive): 50.000 Items fair value: 1,350,000 tax base: 700,000 temporary difference (positive): 650,000 Liabilities fair value liabilities credit: 500,000 tax credit liabilities Value: 800,000 temporary difference (positive): 300,000 temporary differences positive time : 1 million temporary differences negative total: 0


 

The determination of deferred income tax in the consolidated balance sheet: temporary differences relating to the machine: 50,000 temporary differences about how products: 650,000 temporary differences relating to the obligations of credit: 300,000 temporary differences positive total: 1,000,000 rate of tax appropriate to the determination of deferred income taxes: 19% deferred income tax: 190 000 the deferred tax recognised in the separate financial statements of the company with : 11,400 Adjustment of deferred tax: 178.600 the consolidated balance sheet of the Group D + Z: (D) the TOTAL EXCLUSION of Consoli-internal balance DT CT and.

Fixed assets 7,000,000 2,000,000 9,000,000 10,000 (1 6.380.880 including stocks (D) 3.2 million 0 3.2 million 3.2 million (2 in the value of the company – subsidiaries 0 0 0 2) 590.880 590.880 including prepayments deferred income tax 38,000 0 38,000 38,000 B.

Current assets earned 1.5 million 5 million 1) 650,000 7.150.000 TOTAL ASSETS 13.530.880 15.500.000 3.5 million 12 million LIABILITIES (D) of TIME DT CT TIME revaluation of the subsidiary 2) 761.400 761.400 (1 A.

Equity 9,000,000 2,500,000 11.500.000 9,000,000 and.

Capital 6,000,000 2,000,000 8,000,000 2) 2,000,000 6,000,000 II.

Capital reserve 2,500,000 250,000 2.750.000 2) 250,000 2.5 million III.

Other reserves 200,000 100,000 300,000 2) 100,000 200,000 IV.

Net profit (loss) 300,000 150,000 450,000 2) 150 000 300,000 B.

Minority capital 652.280 (2 652.280 D.

Liabilities and provisions for liabilities 1,000,000 3,000,000 4,000,000 1) 300,000 178.600 (1 3.878.600 TOTAL LIABILITIES 15.500.000 3.5 million 12 million 13.530.880 Explanation: 1) the adjustment of the book value of the assets and liabilities of the acquired company to fair value 2) to determine the value of the company, capital of minorities and elimination of equity acquired companies.

16.4. the rules referred to in paragraph 16.2. and 16.3. shall also apply accordingly to include units by proportionate consolidation and valuation of shares equity method in individual or consolidated financial statements, on the day of the creation of a relationship of subordination or on the day of its strengthening.

16.5. If on the day of the control: a) established a positive goodwill, not taking into account the deferred tax assets of the acquiree, because they were covered by accumulated impairment losses, (b)) after the date of entry for the control, but not later than the end of the fiscal year in which the placing under control, information was obtained about the circumstances that occur on the day of entry for control, providing the benefits of deferred tax assets concerning the subsidiary as a result of this because of the increase in the value of deferred tax assets income reduces the value of the company. The adjustment resulting from this title may not bring goodwill to an amount less than the 0.

16.6. the rules referred to in paragraph 16.5. shall also apply to the valuation of positive goodwill recognised in the consolidated financial statements, in the application of the proportional method, and as a result of the valuation of the shares under the equity method in individual or consolidated financial statements, on the day of the creation of a relationship of subordination or on the day of its strengthening.

16.7. In consolidated financial statements by the temporary differences associated with investments in subordinated units means the difference between the carrying amount of these investments and their tax base. The carrying amount of the investment in the subordinated units includes the value of net assets that underlies, per unit parent unit, interdependent or significant investor plus the value of the company and less negative goodwill and impairment loss values. Temporary differences about the value of the company, as established in the consolidated financial statements or the valuation of the shares under the equity method, does not constitute grounds for recognition the assets or deferred tax liabilities. However, they are taken into account in establishing the temporary differences associated with investments in subordinated units referred to in paragraph 16.8. or paragraph 16.12.

16.8. At the balance sheet date, a parent, venturer unit interdependent or significant investor recognises in its separate or consolidated financial statements provision deferred income tax on taxable temporary differences associated with investments in subordinated units with the exception of the investment in respect of which the following conditions are met: a) a parent, venturer unit of interdependent or significant investor controls the terms and amounts to reverse the temporary differences and (b)) it is probable that the temporary differences will not reverse in the future.

You can depart from the recognition of deferred income tax, on investments in subsidiaries, interdependent and associates where the determination of deferred income tax is unenforceable. In this case, in the notes, reveals the temporary differences relating to investments in the units, subsidiaries, interdependent and associates and the value of unrecognised deferred tax liabilities.

16.9. The parent, venturer unit of interdependent or significant investor controls the terms and amounts to reverse the temporary differences, if he has the ability to determine how to profit by the methods given the number of votes available to the at the general meeting of shareholders, the meeting of the shareholders or any other authority authorized, in accordance with the provisions in the agreement or statute, to make decisions about how to profit sharing.

16.10. If in the foreseeable future parent, venturer unit of interdependent or significant investor does not intend to and will not be forced: a) dispose of shares in the unit that underlies, and (b)) have an impact on profit distribution by the subordinated in the form of a dividend shall be deemed to be probable that taxable temporary differences will not reverse in the future.

16.11. If a parent, venturer unit of interdependent or significant investor in accordance with paragraph 16.8. is required for recognition of deferred income tax is determined by the way of the reversal of temporary differences. If it is not possible to reliably determine how the reversal of temporary differences in the future, it is assumed that the reversal of the temporary differences will occur through the sale of shares.

Example of the application of paragraph 16.8. and 16.11 Unit acquired the 30.06.20 X 9, 800 of the 1,000 shares BETA S.A. (a subsidiary) for the price of £ 1,000,000. The fair value of net assets BETA S.A., established on the 30.06.20 X 9, amounted to £ 700,000. At the date of acquisition of the shares were not the difference between the fair value and the carrying amount of the assets and liabilities of the BETA S.A. during the period from 30.06.20 X 9 to 31.12.20 X 9, a subsidiary has achieved net profit-$ 200,000. Parent controls the terms and amounts to reverse the temporary differences within the meaning of paragraph 16.9. Goodwill is amortized over a period of five years on a straight-line basis.

Under the income tax Act, the income from dividends and other shares in profit in 20 x 9, you will not be taxed.

Tax laws provide that in the case of disposal of shares should include the cost of obtaining revenue in an amount equal to the price of their acquisition and the tax revenue in an amount equal to the price at which the shares are disposed of. The determination of deferred income tax is feasible.

 

31.12.20 X9r. goodwill: 396.000 (1,000,000-700,000 x 80% x890% Value of the net assets of the subsidiary included in the consolidated balance sheet (excluding goodwill): 900,000 700,000 + 200,000 minority Capital: 180,000 900.000 x 20% of the carrying amount of the investment in the subsidiary: 1.116.000 396.000 + 900,000-180,000 the tax base of the investment in the subsidiary: 1 million temporary differences: 116.000 variant A


The parent does not intend to dispose of the company's shares, however, implies the possibility of profit in the form of dividends.

Because it was not true point 16.8 (b). (parent allows dividend payment, which is a reversal of temporary difference), you should consider creating a deferred income tax. Due to the fact that the dividends are not taxed, in accordance with paragraph 16.11. not recognised such a reserve.

VARIANT (B) parent undertaking intends to dispose of the shares of the company BETA within the next 5 years. However does not provide for the payment of dividends.

Because it was not true point 16.8 (b). (an entity intends to dispose of the shares), you should consider creating a deferred income tax. Due to the fact that the reversal of the temporary difference will be by sale of shares pursuant to paragraph 16.11. is the provision in the amount of 22.040 (19% x 116.000) and income tax expenses.

Option C a parent does not have a specified intent as to how to deal with the shares of the company and as to the effect on the payment of dividends by the company.

Because it was not true point 16.8 (b). (the unit may dispose of shares or affect the allocation of dividends), you should consider creating a deferred income tax. Due to the fact that the reversal of the temporary difference can be made by selling of shares, in accordance with paragraph 16.11. (it is not possible to reliably determine how the reversal of temporary differences in the future, it must therefore be assumed that the reversal of the temporary differences will occur through the sale of shares) is the provision in the amount of 22.040 (19% x 116.000) and income tax expenses.

VARIANT D Unit intends to sell shares of the company BETA after three years. Up to this point, the parent is going to affect the payment of a dividend in the amount of $100,000, by BETA.

Because it was not true point 16.8 (b). (sale or affect the payment by BETA dividends), you should consider creating a deferred income tax. Since the reversal of the temporary difference:-you will be by payment of a dividend in the amount of $100,000 (including the parent is £ 80,000).

-by selling stock after three years, are to be the reserve of EUR 6.840 [19% x (116.000-80,000)] and income tax expenses.

 

Example of the application of paragraph 16.8. and 16.11.

The unit had acquired 30.06.20 X 9, 300 of the 1,000 shares of GAMMA S.A. (associate) for the price of $400,000. The fair value of net assets GAMMA S.A., established on the 30.06.20 X 9, amounted to 700,000. At the date of acquisition of the shares were not the difference between the fair value and the carrying amount of the assets and liabilities of the GAMMA S.A. during the period from 30.06.20 X 9 to 31.12.20 X 9 r. associate reached a net profit-£ 200,000.

Goodwill is amortized over a period of five years on a straight-line basis.

Significant investor does not control the terms and amounts to reverse the temporary differences within the meaning of paragraph 16.9.

Under the income tax Act, the income from dividends and other shares in profit in 20 x 9, you will not be taxed. Tax laws provide that in the case of disposal of shares should include the cost of obtaining revenue in an amount equal to the price of their acquisition and the tax revenue in an amount equal to the price at which the shares are disposed of.

The determination of deferred income tax is feasible.

 

31.12.20 X 9 r.

The value of the company: 171.000 (400,000-700,000 x 30%) x 90% of the carrying amount of an investment in an associate (including goodwill): 441.000 171.000 + 700.000 x 30% + 200,000 x 30% of the tax base of the investment in an associate: 400,000 temporary differences: 41.000 variant A Significant investor does not intend to dispose of the shares of the company GAMMA, and implies the possibility of impact on profit in the form of dividends.

Because it was not true paragraph 16.8., (significant investor does not control how the reversal of temporary difference) and 16.8. (b). (it is possible that the temporary differences will reverse in the future), you should consider creating a deferred income tax. Due to the fact that the dividends are not taxed and significant investor does not intend to sell the shares, pursuant to paragraph 16.11. not recognised such a reserve.

VARIANT (B) Significant investor intends to sell shares of the company GAMMA within three years. During this period, a significant investor does not intend to affect the payment of a dividend by the GAMMA SA.

Because it was not true point 16.8 and. (a significant investor does not control how the reversal of temporary difference) and 16.8 (b). (a significant investor intends to dispose of the shares), you should consider creating a deferred income tax. Due to the fact that the reversal of the temporary difference can be made by selling of shares, in accordance with paragraph 16.10 and recognised the provision in the amount of 7.790 (19% x 41.000) and income tax expenses.

Option C a significant investor does not have a specified intent as to how to deal with the shares of the company GAMMA and the effect on the payment of dividends by GAMMA.

Because it was not true point 16.8 (significant investor does not control how the reversal of temporary difference) and 16.8 (b). (a significant investor may dispose of shares or affect the payment of a dividend), consider creating a deferred income tax. Due to the fact that the reversal of the temporary difference can be made by selling of shares, in accordance with paragraph 16.11 recognised such a provision in the amount of 7.790 (19% x 41.000) and income tax expenses.

VARIANT D Significant investor intends to sell shares of the company GAMMA after three years. Up to this point a significant investor intends to enter on the payment of a dividend in the amount of $100,000.

Because it was not true paragraph 16.8. (a significant investor does not control how the reversal of temporary difference) and 16.8 (b). (a significant investor sell shares), you should consider creating a deferred income tax. Since the reversal of the temporary difference:-can take place through the payment of a dividend and a significant investor does not control the reversal of the temporary difference in the way-can occur through the sale of shares pursuant to section 16 para. 11 is the provision in the amount of 7.790 (19% x 41.000) and income tax expenses.

 

Example of the application of paragraph 12.4, 16.8. and 16.11.

Unit H S.A. (established on the territory of the Polish) acquired 30.06.20 X 9, 100% of the 1,000 shares of the company (the subsidiary), located in the EUR, for the price of € 4,000,000, convert them (for the purposes of income tax) rate 4.00. The fair value of net assets of the company, established on the 30.06.20 X 9, amounted to EUR 3,000,000. At the date of acquisition of the shares were not the difference between the fair value and the carrying amount of assets and liabilities in the period from 30.06.20 X 9 to 31.12.20 X 9, a subsidiary has achieved net profit-2,100,000.

Goodwill is amortized over a period of five years on a straight-line basis.

Parent H S.A. controls the terms and amounts to reverse the temporary differences within the meaning of paragraph 16.9. At the same time, however, intends to sell shares of the company for 3 years, no effect to this term on profit distribution by the Y in the form of dividends.

The tax rate in force in the territory of the Polish is 19% and in the State in which he is established the Company Y-30%. Tax legislation in force in the territory of the Polish stipulate that in the case of disposal of shares should include the cost of obtaining revenue in an amount equal to the price of their acquisition and the tax revenue in an amount equal to the price at which the shares are disposed of.

At the balance sheet date, 31.12.20 X 9, course applied to the conversion of assets and liabilities of the subsidiary amounted to 5.00 zł. Income and expenses of the subsidiary expressed in EUR for the period 30.06.20 X 9 to 31.12.20 X 9, have been converted into gold rate 4.50.

The determination of deferred income tax is feasible.

 

 

31.12.20 X 9 r.

The value of the company in EUR: 900,000 (4,000,000-3,000,000) x 90% of the carrying amount of the investment in the subsidiary (including goodwill) EUR: 6,000,000 (3,000,000 + 2,100,000 + 900,000) the carrying amount of the investment in the subsidiary (including goodwill) in PLN: 30 million (6,000,000) x 5 the tax base of the investment in the subsidiary: 16,000,000 temporary differences (in PLN): 14 million (30.000.000-16,000,000) temporary differences included in the financial result: 9,000,000 (2,100,000-100,000) x 4, 5 temporary differences included in revaluation capital subsidiary : 5 million (14 million-9,000,000) consolidated financial statements:


Due to the fact that it's likely reversal of taxable temporary differences, and the reversal of this is done through the sale of shares, shall be the provision of deferred tax in the amount of $2.660.000 (14 million x 19%). This reserve shall be recognised as an expense in income tax in the amount of $1.710.000 (9,000,000 x 19% = 1.710.000) and as a reduction of capital from revaluation of the subsidiary in the amount of $950,000 (5,000,000 x 19% = £ 950,000).

 

16.12. At the balance sheet date, a parent, venturer unit interdependent or significant investor in individual or consolidated financial statements is recognised deferred tax assets income from deductible temporary differences relating to investments in subordinated units, if it is likely that the negative temporary differences will reverse in the future. Paragraph 11.11. -11.20. shall apply mutatis mutandis.

You can depart from the recognition of deferred tax assets relating to the investment in units, subsidiaries, interdependent and associates where the determination of deferred tax assets is not feasible. In this case, in the notes, reveals the temporary differences relating to investments in the units, subsidiaries, interdependent and associates and the value of unrecognised deferred tax assets.

16.13. in the foreseeable future parent, venturer unit of interdependent or significant investor intends to and will be able to sell shares in the unit that underlies it is considered that it is likely that the negative temporary difference will be reversed in the future.

16.14. If an entity does not have a specified intent as to the handling of shares unit subordinated and temporary difference is negative, it is assumed that it is not likely that the deductible temporary differences will reverse in the future.

 

Example of the application of paragraph 16.12, 16.13 and 16.14.

The unit had acquired 30.06.20 X 9, 800 of the 1,000 shares at a price of £ 1,000,000, FRA S.A.. The fair value of the net assets of the FRA S.A. established on 30.06.20 X 9, amounted to £ 700,000. At the date of acquisition of the shares were not the difference between the fair value and the carrying amount of assets and liabilities FRA S.A.

Between 30.06.20 X 9 to 31.12.20 X 9, a subsidiary has suffered a net loss of-$ 400,000

Goodwill is amortized over a period of five years on a straight-line basis.

Parent controls the terms and amounts to reverse the temporary differences within the meaning of paragraph 16.9.

Under the income tax Act, the income from dividends and other shares in profit in 20 x 9, you will not be taxed. Tax laws provide that in the case of disposal of shares should include the cost of obtaining revenue in an amount equal to the price of their acquisition and the tax revenue in an amount equal to the price at which the shares are disposed of.

The determination of deferred tax assets is feasible.

 

 

31.12.20 X9r. goodwill: 396.000 (1,000,000-700,000 (80%) 890% of the net asset value of the subsidiary included in the consolidated balance sheet (excluding goodwill): 300,000 700,000-400,000 minority Capital: 300,000 60,000 x 20% of the carrying amount of the investment in the subsidiary: 636.000 396.000 + 300,000-60,000, the tax base of the investment in the subsidiary: 1 million temporary differences:-364.000 variant A parent does not intend to dispose of shares of FRA, and implies the possibility of profit in the form of dividends.

Because it was not true.-16.12. (parent unit will not affect the negative reversal of temporary difference – see points 16.13), not recognised deferred tax assets.

VARIANT (B) parent undertaking intends to dispose of shares of FRA in the next 5 years, however, does not provide for the payment of dividends.

As has been true point 16.12. (parent intends to dispose of the shares), are recognised deferred tax assets in the amount of 69.160 (364.000 x 19%) and reduces the cost of income tax. Then these assets are tested for impairment, in accordance with section 11.11. -11.20.

Option C a parent does not have a specified intent as to how to deal with the shares of the company FRA.

Because the parent does not have a specified intent as to how to deal with the shares of the company FRA, section 16.14. It is assumed that it is not likely that the deductible temporary differences will reverse in the future. It is therefore not recognised deferred tax assets.

OPTION (D) parent undertaking intends to sell shares of the company FRA after three years. Up to this point, the parent is going to affect the payment of a dividend by the FRA, in the amount of $100,000.

As has been true point 16.12. (sale of shares after three years), is recognised deferred tax assets in the amount of 69.160 (364.000 x 19%) and reduces the cost of income tax. Then these assets are tested for impairment, in accordance with section 11.11. -11.20.

16.15. If between forming holding company comes to the transactions, which are the source of unrealised gains or losses from the point of view of this group and are subject to the exclusion in the consolidated financial statements, is the difference between the carrying amount of the fixed assets in the consolidated financial statements and their tax value, are temporary differences.

Example of the application of paragraph 16.15.

A parent has a 80% share of the net assets of the subsidiary. The subsidiary sold the parent items for the price of $100,000, have already acquired for £ 70,000. These goods are not sold by the parent to the 31.12.20 X 3, expected those goods will be sold in 20 x 4, a parent and a subsidiary are taxable income tax. The income tax Act provides that in the 20 x 4 r. income tax rate is 19%.

Consolidated documentation followed by adjustment of the carrying of the goods to the level of $70,000: the carrying amount in the consolidated balance sheet items: 70,000 tax Value of goods: 100,000 temporary difference:-30,000 deferred tax assets: 5.700 (19% x 30,000) consolidated documentation follows the Elimination of income and expenses in the amount of $100,000 and the recognition of value adjustments of the goods in the amount of $30,000-and the cost of goods sold in the amount of $30,000 in connection with the intra-group transaction profit on unfulfilled. At the same time recognised deferred tax assets and income tax to reduce costs in the amount of $5,700. The unrealized net profit attributable to the minority shareholders (20% x 30000-20% x 5.700 = 4.860) reduces the capital of minorities. If under the same conditions, the unit selling was a parent, there was presented to the adjustment of capital.

16.16. Assets and liabilities deferred tax liabilities shall be valued at the rate of tax, applicable to the State in which the disposal by the holding company of the asset or settlement of obligations. Temporary differences arising from valuation at fair value of the assets and liabilities of the subsidiary, interdependent or associate which is resident in the country where the currency is another currency than EUR, are calculated according to the tax rate in force in that State.

Example of the application of paragraph 16.16.

Parent A has A 80% share of the net assets of the subsidiary (B). Parent undertaking is established in the territory of the Polish (the tax rate is 19%) and is subject to income tax in Poland. A subsidiary is established in the State in which the currency is EUR, and the tax rate is 30%.

A unit on 1.12.20 X 0 r. sold the unit (B) goods for the purchase price of $1 million, for a price of EUR 500,000. In connection with this transaction and the unit has included tax revenues in the amount of $2,000,000 (EUR 500,000 looked at her gold at the rate of 1:4) and the cost of obtaining revenue in the amount of $1,000,000. The same amount of the parent recognised in the accounts as revenue from sales and cost of goods sold. The subsidiary sold the goods acquired from the parent for the price of EUR 1,000,000. To the balance sheet date 31.12.20 X 0, unit B not settled its liabilities to the unit a. EUR at the balance sheet date amounted to € 5.00.

Entity A is recognised as income tax and the cost of obtaining revenue exchange differences resulting from the payment of receivables and liabilities. Exchange rate differences from the valuation of receivables and liabilities are not for units and revenues and expenses deductible.

Separate financial statements of the company and: With regards to the fact that the unit and: – shall be measured from the unit (B) on the day of 31.12.20 X 0, in the amount of $2.5 million, the tax base of this receivable is $2,000,000,-tax rate is 19%,


in the separate financial statements of an entity and, drawn up on the 31.12.20 X 0 r. captures the provision of deferred tax in the amount of 95,000 (500,000 x 19%) and at the same time, recognises the costs of income tax in this amount.

Consolidated financial statements consolidated documentation follows the Elimination of settlements between the parent and the subsidiary in the amount of $2.5 million and the Elimination of income and expenses arising from intra-group transactions in the amount of $2,000,000. Due to the fact that the exchange rate differences from the valuation of the currency position have not been eliminated, there is no adjustment of deferred income tax.

 

Example of the application of paragraph 16.16.

Parent C has a 80% share of the net assets of the subsidiary (D). The parent is established in the territory of the Polish (the tax rate is 19%) and is subject to income tax in Poland. A subsidiary is established in the State in which the currency is EUR, and the tax rate is 30%.

Unit C on 1.12.20 X 0 r. sold the unit (D) goods of the purchase price of $1 million, for a price of EUR 500,000. In connection with this transaction, the parent recognised tax revenues in the amount of $2,000,000 (EUR 500,000 looked at her gold at the rate of 1:4) and the cost of obtaining revenue in the amount of $1,000,000. The same amount of the unit (C) recognised in the accounts as revenue from sales and cost of goods sold. Unit (D) has included in its accounts carried out in EUR, the goods in the amount of 500,000 EU, the transaction is not affected by the income of the subsidiary (affect the income of the subsidiary at the time of sale of the goods by it).

Unit (D) paid for the goods unit C on 20.12.20 X 0, the goods are not sold by unit D to 31.12.20 X 0. Expected these goods will be sold in 20 x 1, the EUR at the balance sheet date amounted to € 5.00. Unit C is recognised as income tax and the cost of obtaining revenue exchange differences resulting from the payment of receivables and liabilities. Exchange rate differences from the valuation of receivables and liabilities are not for unit C income and expenses deductible.

 

Separate financial statements of the company (C): due to the fact that in the separate financial statements of an entity (C), drawn up on the 31.12.20 X 0, there are temporary differences, the C does not recognise the assets or deferred tax liabilities.

Consolidated financial statements: the documentation consolidation eliminates the income and expenses in respect of intra-group transactions for an amount of $2,000,000. In addition, followed by adjustment of the carrying of the goods to the $1.5 million (£ 1 million of unrealized profits on intra-group transactions): the carrying amount in the consolidated balance sheet items: 1.5 million (2.5 million-1,000,000) the tax base of the goods: 2.5 million (500,000 x 5, 00) temporary difference:-1,000,000 deferred tax assets: 300,000 (30% x 1,000,000) in consolidation is recognised deferred tax assets and income tax to reduce costs in the amount of $300,000. Included deferred tax assets subject to a loss of value in the taxpayer's income tax (see paragraph 16.18.).

 

Example of the application of paragraph 16.16.

Parent E has a 80% share of the net assets of the subsidiary (F). The parent undertaking is established in the territory of the Polish (the tax rate is 19%) and is subject to income tax in Poland. The subsidiary F is a resident of the State in which the currency is EUR, and the tax rate is 30%.

Unit F on 1.12.20 X 0 r. sold the unit (E) goods of the purchase price of EUR 1 million, for a price of 1.5 million EU R. In connection with this transaction a subsidiary F recognised tax revenues in the amount of EUR 1.5 million and the cost of obtaining revenue in the amount of EUR 1,000,000. The same amount of unit F recognised in the accounts as revenue from sales and cost of goods sold. E unit has included in its accounts the goods in the amount of $6 million (EUR/PLN = 1:4). The transaction will affect the income of the parent at the time of the sale of its goods (to the balance sheet date 31.12.20 X 0, had no impact on the income).

E unit paid for the goods unit F on 20.12.20 X 0, the goods are not sold by the Enterprise E to 31.12.20 X 0. Expected these goods will be sold in 20 x 1, the EUR at the balance sheet date amounted to € 5.00. E unit is recognised as income tax and the cost of obtaining revenue exchange differences resulting from the payment of receivables and liabilities. Exchange rate differences from the valuation of receivables and liabilities are not for the unit (E) income and expenses deductible.

Separate financial statements of the company (E): due to the fact that in the separate financial statements of the unit (E), drawn up on the 31.12.20 X 0, there are temporary differences, unit E does not recognise the assets or deferred tax liabilities.

Consolidated financial statements: the documentation consolidation eliminates the income and expenses arising from transactions within the group in the amount of $6,000,000. In addition, followed by adjustment of the carrying of the goods to the level of PLN 4,000,000: the carrying amount in the consolidated balance sheet items: £ 4,000,000 (1,000,000 EURx4, 00) the tax base of the goods: 6,000,000 $ temporary difference:-2,000,000 deferred tax assets: 380,000 (19% x 2,000,000) in consolidation is recognised deferred tax assets and income tax to reduce costs in the amount of $380,000. Included deferred tax assets subject to a loss of value in the taxpayer's income tax (see paragraph 16.18.). Due to the "grass-roots" nature of intra-group transaction decreases the amount of minority capital 324.000 € [(2,000,000-380 k) [20% = 324.000].

16.17. the rules referred to in paragraph 15.7. shall apply mutatis mutandis to the preparation of the consolidated financial statements the method of pooling of interests.

16.18 the determination of write-downs of deferred tax assets income shall be made, in its consolidated financial statements, at the level of the taxpayer's income tax. In determining impairment assets deferred income tax is taken into account temporary differences arising at the level of the consolidated financial statements. Temporary differences arising at the level of the consolidated financial statements are attributed to individual taxpayers covered by the consolidated financial statements.

Example of the application of paragraph 16.18.

In the consolidated financial statements of the X and Y units included deferred tax assets income the amount of $1,900,000. These assets arising from deductible temporary differences on fixed assets in the amount of $10 million, from taking control of the subsidiary. Additionally, in its consolidated financial statements presented are deferred tax assets in the amount of $35 million, resulting from temporary differences arising at the level of the financial statements ($ 20 million) and at the level of the financial statements ($ 15 million). These assets are tested for impairment at the level of individual financial statements, in accordance with paragraph 11.11-11.20. X and Y are separate taxpayers income tax of legal persons.

Assuming that the valuation of deferred tax assets at the level of the separate financial statements was correct and the test for impairment meets the criteria referred to in paragraph 11.11-11.20, an additional test shall be carried out on the loss of the value of deferred tax assets in respect of that financial statements of the company. This is due to the fact that at the level of separate financial statements were tested deferred tax assets with a value of £ 15 million , meanwhile, for making the consolidated financial statements created additional temporary differences that require the coverage test for impairment.

Assuming the accuracy of the valuation of assets and of deferred income tax is not required additional test for impairment at the level of the financial statements of the entity X.

16.19. the rules referred to in paragraph 16.8-16.15 shall apply mutatis mutandis to the valuation of the shares (shares) in the subordinate units in its separate financial statements.

XVII. Presentation in the financial statements (individual and consolidated) 17.1. Assets and liabilities deferred tax is reported in the balance sheet as accruals and reserves. In the case of a division of assets on the permanent and rotating and obligations (reserves) on long term and short term, assets and deferred income tax includes up to assets and liabilities (reserves).


17.2 the costs or revenues from income tax referred to in paragraph 12.4., shall be subject to clause 17.3., in the profit and loss account under the heading income tax; If the entity provides for the cessation of the specified activity and therefore the profit and loss account separately shows income and expenses for these activities from the revenue and costs of kontynuowanej41, under the heading income tax shall be shown separately the costs or revenues from income tax (both current and deferred) for the activity that is subject to discontinuation of cost or revenue income tax expense from continuing operations.

17.3. If the income tax, collected by the tax payer, is then reimbursed taxable entity in the form of a deduction from tax, or in any other form, and reducing liability for income tax accompanied by a decrease in the specific revenue unit, unit shows these deductions or other refunds as an adjustment to the amounts representing revenue.

17.4 costs or income tax revenue attributed to the continuing operations include income tax costs that apply to this activity adjusted for changes in the amount of impairment of deferred tax assets and the effects of changes in tax laws other than those listed in paragraph 12.4. (b). The effects of the determination of deferred tax assets on tax losses is reported as part of the continuing operations and discontinuing According to the source of the creation of tax losses.

Example of the application of paragraph 17.2.

The DELTA unit SP. z o.o. in 20 x 3, suffered a tax loss in the amount of $1,000,000. This loss was due to: – income on continuing operations in the amount of $1.700.000 – extraordinary for discontinued operations that is included in determining income in the amount of $200,000, is a loss for activities subject to discontinuation in the amount of $2.5 million;

It was found that the DELTA SP. z o.o. has no temporary difference on 31.12.20 X 3, the tax loss can be settled within 5 years, not more than 50% in one year. It was concluded that it is unlikely the deduction of losses from income in the following years.

Under the income tax act the income tax rate in 20 x 3 r was 27%. At the 31.12.20 X 3, the tax rate for 20 x 4 r will be 19%.

The recognition of deferred tax assets – posting on 31.12.20 X 3.

DT deferred tax assets income 190,000 (1,000,000 x 19%)

 

DT costs from income tax (continuing operations) 323.000 (1.700.000 x 19%)

 

The CT revenue from income tax (discontinuing) 513.000 (2.700.000 x 19%)

The inclusion of write-downs of deferred tax assets income-post on 31.12.20 X 3.

DT costs from income tax (continued) 190 000 CT write-downs of deferred tax assets income 190,000 17.5. If the effects of the recognition of assets or liabilities deferred tax in accordance with paragraph 12.1., refers to the capital (Fund) its own, they are in the same position of equity, which showed the effects of the transaction constituting a source of temporary differences.

17.6. the investment Bonuses shall be shown in the balance sheet as accrued revenue. Copies of the investment premium shall be shown in the profit and loss account under the heading income tax.

XVIII. Disclosure of information relating to income tax (in the separate and consolidated financial statements) 18.1. In the introduction to the financial statements (individual and consolidated), presenting the adopted by the unit of accounting policy policy discusses also the principle policy adopted in respect of income tax, and in particular: (a)) specifies the accepted method of issue ("reversal") temporary differences in the case referred to in paragraph 11.5., b) explains whether the principle of netting or niekompensowania assets and of deferred income tax (see paragraph 14.2. -14.5.).

18.2. In the additional information and explanations, in individual and consolidated financial statements, the following information about the income tax: a) the State data of deferred income tax at the beginning of the financial year, the value of increases, the use, and able to końcowym42, with taking into account:-the initial State reserves; This information shall be given in such a way as to its reconciliation with the amount presented in the balance sheet, taking into account the compensation referred to in chapter XIV,-increases or decreases of deferred tax relating to the operations, which have affected the financial results, increases or decreases of deferred tax relating to the operations, which refers to capital (Fund) own, specifying the kind of temporary differences , which are the basis for recognition of these reserves, increases of deferred income tax included in determining the values of the company,-the rest of the increases or decreases of deferred income tax,-end state reserves; This information shall be given in such a way as to its reconciliation with the amount shown in the balance sheet, taking into account the compensation referred to in chapter XIV.

(b)) a list of relevant active accruals arising from deferred tax assets income from uwzględnieniem43: – the value of deferred tax assets (without impairment) resulting from tax losses, stating the terms of expiry of the right to deduct these losses, – the value of deferred tax assets (without impairment) resulting from unused income tax free and open reductions of tax base ,-the value of deferred tax assets (without impairment) resulting from other deductible temporary differences-write-downs of deferred tax assets income – arrangements the above data with the value of the deferred tax assets shown in the balance sheet, taking into account the compensation referred to in chapter XIV.

(c)) the settlement of the main position different taxable personal income tax profit (profit, loss) brutto44, d) personal income tax as a result of operation nadzwyczajnych45, e) the presumed amount of assets and deferred income tax related to investments in subsidiaries, interdependent and Associates, whose accurate determination is not feasible (para. 16.8 and 16.12.). In this case, shall also be provided about the value of temporary differences relating to those investments.

18.3. it is recommended that the disclosure of additional information and explanations, in individual and consolidated financial statements, the following information: a) information on the State of the accruals active deferred tax at the beginning of the financial year, the value of increases, reductions in and the final State, taking into account:-the initial state accruals deferred income tax of active isolation impairment (specifically affecting the result and equity); This information shall be given in such a way as to its reconciliation with the amount presented in the balance sheet, taking into account the compensation referred to in chapter XIV – increases or decreases the active with the accruals deferred tax relating to the operations, which have affected the financial results, increases or decreases accruals deferred tax on the income of active operations, which refers to equity, specifying the kind of temporary differences , which are the basis for recognition of those assets,-increase accruals active deferred tax included in determining the values of the company,-the other increases or decreases accruals deferred active income tax,-changes in the value of write-downs accruals active deferred tax, with an indication of what their portion of the impact on the financial result and equity – end state accruals active hive impairment (specifically affecting the result and equity); This information shall be presented in such a way as to its reconciliation with the amount shown in the balance sheet, taking into account the compensation referred to in chapter XIV.

(b)) the amounts affecting the amount of costs or revenues from income tax, specifying:-the income tax obligations which have arisen during the financial year, the effects of the establishment and the investment premium,


-the effects of changes in the value of the assets or deferred tax liabilities, resulting from changes in tax rates, the tax rates for the years for which previously there were these rates or from a change in tax policy that contributed to the change in how to determine the value of the tax-effects shots deferred tax assets arising from tax losses, the effects of other changes in the value of assets and of deferred income tax that affected the financial results,-effects shots or reduce the impairment write-down of deferred tax assets income – the effects of other events.

(c)), the amount of income tax referred to in paragraph 12.4., in relation to equity, specifying the position of the equity, which affected the income tax, d) of the description of the relevant investment bonuses received during the reporting period, and data on the State of the accrued income from premiums, with a separate indication:-initial state accruals investment bonus-reductions accrued in respect of written-off on the outcome of the investment premium – increases in accrued income obtained investment premium, other reductions and increases in accrued income from investment premium, with a separate indication of their relevant titles,-end state accruals of revenue investment bonus.

(e)) the total amount of taxable temporary differences relating to investments in subordinated units, for which you have not created a of deferred income tax and the amount of deferred income tax which would have been included if the unit intended to dispose of these investments in the next fiscal year, f) total amount of deductible temporary differences relating to investments in subordinated units, for which no deferred tax assets were established and the amount of the deferred tax assets (not including impairment) that would have been included if the unit intended to dispose of these investments in the next fiscal year, g) numerical reconciliation between income tax expenses and accounting profit, including: accounting profit) achieved during the reporting period, ii) amount of income tax from the gross financial result, calculated as the product of accounting profit and tax rate applied during the reporting period, iii) quantifying the differences between the amount of the income tax accounting profit referred to in point ii), and the amount of the costs or revenues from income tax, presented in the profit and loss account, specifying:-the costs or revenues from income tax, resulting from events affecting the tax base during the reporting period, that have not been and will not count towards the gross financial result,-the effects of events affecting the profit during the reporting period which, in accordance with the tax laws were not and will not be included in the tax base, the effects of income tax costs in connection with the investment bonus allowance – the effects of the increase or decrease in income tax expenses due to the increase or decrease in write-downs of deferred tax assets income – the effects of other events, including taking into account the valuation of assets or liabilities income tax tax rate different from the rate in force during the reporting period.

IV) the actual cost of tax stated in the profit and loss account.

h) specify the reasons for which the entity has made impairment assets deferred income tax.

18.4. The financial statements disclose other information than those listed in paragraph 18.1. and 18.2. If separate rules so provide.

XIX. The interim financial statements (individual and consolidated) 19.1 at the balance sheet date, on which the interim financial statements, shall be: a) the assets and deferred income tax, b) a liability or income tax receivables, c) costs or income from income tax, d) the income tax affecting equity, according to the rules set out in chapters I-XVII.

19.2. The unit (capital group), shall be determined by: a) the expected height of the gross financial result for the year, (b)) the expected amount of costs (income) income tax for the year, (c)) the effective tax rate, understood as the quotient of the b) and a).

19.3. the size of income tax expenses, presented in interim financial statements, shall be determined as the product of the effective tax rate referred to in paragraph 19.2. c. and accounting profit for the interim period.

19.4. The difference between the costs of income tax referred to in paragraph 19.1. (c), and the costs of the tax referred to in paragraph 19.3. These include assets or deferred tax reserves.

Example of the application of paragraph 19.1. -19.4.

A unit of R are recognised at the end of 2008. deferred income tax in the amount of $2,000,000. In 2008, suffered a loss of tax in the amount of $10 million, but not recognised deferred tax assets in respect of this loss, because it was not likely to achieve income. In 2009, there has been a change in estimates of projected income. In the first quarter R SA has reached the income and gross profit in the amount of $10 million. The same income and gross profit are planning to achieve in the next three quarters.

R SA is a public zobligowaną for the preparation of quarterly financial statements. It is planned that at the end of 2009, deferred tax liability will be determined in the amount of $4,000,000, and deferred tax assets income-£ 1 million. In 2009 it is planned to carry out the transaction, the effects of which would be recognised in equity or would the recognition of goodwill-tax effects of transactions carried out, therefore, will be included only in the cost of the income tax.

At the end of the first quarter was valued deferred income tax for the amount of $3,000,000 and deferred tax assets income-£ 1.5 million. The tax loss for 2008 was in the middle of the deducted from income for the first quarter of 2009.

The valuation of assets and of deferred income tax on 31.03.2009.

DT deferred tax assets income 1,500,000 Ct deferred income tax income tax Expenses to establish 500,000 Ct 1,000,000 planned gross financial result for 2009:4 x 10 m = 40 million to determine the planned costs of the income tax: current tax costs Planned: (40 million-5 million) x 19% = 6.650.000 the planned tax-deferred costs: (4,000,000-2,000,000)-1 million = 1,000,000 TOTAL planned costs: (6.650.000 + 1,000,000) = Effective tax rate 7.650.000:7.650.000/= 40 million income tax Costs% 19.125 report for the first quarter of : 10,000,000 x 19, 125% = 1.912.500 the cost of liability for income tax for the first quarter = (10 million-5 million) x 19% = 950,000 Income deferred income tax for the first quarter = 500,000 Doksięgowanie the cost of the tax for the first quarter = 1.912.500 + 500,000-950,000 = 1.462.500 Dt Costs income tax deferred tax Reserve Ct 1.462.500 1.462.500 example, the application of paragraph 19.1. -19.4.

Assumptions such as the previous example. However, at the end of 2008, the entity recognised deferred tax assets in the amount of $1,900,000 in connection with tax loss for 2008.

The valuation of assets and of deferred income tax on 31.03.2009.

DT Costs income tax salary Ct deferred income tax 1 million Ct deferred tax assets income 400,000 to determine planned gross financial result for 2009:4 x 10 m = 40 million to determine the planned costs of the income tax: current tax costs Planned: (40 million-5 million) x 19% = 6.650.000 the planned tax-deferred costs: (4,000,000-2,000,000) + 900,000 = 2.9 million TOTAL planned costs: (6.650.000 + 2.9 million) = 9.550.000 Effective tax rate: 9.550.000/= 40 million income tax Costs% 23.875 report for the first quarter of : 10,000,000 x 23, 875% = 2.387.500 the cost of liability for income tax for the first quarter = (10 million-5 million) x 19% = 950,000 cost of deferred income tax for the first quarter = 1,400,000 Doksięgowanie tax costs for the first quarter = 2.385.500-1,400,000-950,000 = 37.500 Dt Costs income tax 37.500


 

CT deferred tax Reserve 37.500 Annex and the procedures applicable to the recognition and valuation of assets and liabilities deferred tax attachment is ancillary and illustrates one of the possible ways of conduct when using the Standard explanations for the purpose of calculating assets and of deferred income taxes at the balance sheet date. It is not part of the provisions of the standard.

1. in order to ensure the complete recognition of assets and of deferred income tax, at the balance sheet date is determined: – the tax values of all components of assets and liabilities and the balance sheet values are compared with corresponding components of assets and liabilities in order to determine the temporary differences,-temporary differences resulting from items not included in the assets and liabilities, which will respectively decrease or increase the tax base (tax deduction or additions to the tax) in the future ,-the amount of the tax losses to be deducted from income in the future.

2. Fixes the amount of temporary differences (8.1 and 9.1. Standard):-as a basis for the recognition of assets and of deferred income tax-not grounds for the recognition of assets and of deferred income tax.

3. If the tax law provides for different rates for different years is carried out analysis of the reversal of temporary differences in order to determine the appropriate tax rates to the valuation of assets and of deferred income tax. In the case where the tax law provides for a single rate, this analysis is not necessary (paragraph 11.4 and 11.5. Standard).

4. For all established temporary differences, as a basis for the recognition of assets or liabilities deferred income tax, and tax losses possible to deduct from the income in the future is determined by the amount of assets and of deferred income taxes in accordance with the principles described in chapters VIII, IX and section 11.1. -11.10. Standard.

5. Fixed – as above – assets and liabilities deferred tax is divided into related to profit and loss account in equity and on the value of the company, in accordance with the provisions of chapter XII standard. The settlement requires the cost (income) income tax between the individual items in the profit and loss account, in accordance with the provisions of Chapter XVII.

6. All assets deferred income tax shall be analysed from the point of view of the possible loss of value and sets the height of the impairment value of these assets in accordance with the principles described in paragraph 11.11-11.20. Standard. Enclosed copies of refers to capital (Fund) from revaluation or the cost of the income tax, in accordance with the principles set out in paragraph 12.7. Standard.

Appendix b. Example application procedures that are described in the annex and the Appendix is secondary and illustrates one of the possible ways of conduct when using the Standard explanations for the purpose of calculating assets and of deferred income taxes at the balance sheet date. It is not part of the provisions of the standard.

In the financial statements for 20 x 2 unit established deferred tax assets in the amount of $1.3 million and deferred income tax in the amount of $500,000. All assets and of deferred income tax related to the operation included in the financial result. On the day of 31.12.20 X 2, deferred tax assets were covered by accumulated impairment losses in the amount of $900,000.

An entity shall apply the principles of the accounting policy, consisting of close-out netting of assets and of deferred income tax. In the course of the year 20 x 3 there were no errors, the effects of which would have to be settled with a capital (Fund) own and there were no changes in accounting policies.

In the annual tax return, for 20 x 3 year established liability for income tax in the amount of $1,400,000 (an advance on income tax, paid during the year amounted to $1,000,000 20 x 3).

Ad. 1 Annex A. In preparing the financial statements for 20 x 3, it has been established the carrying amounts and tax assets and liabilities and temporary differences on day 31.12.20 X 3 (with the exception of the assets and of deferred income tax, which the State, presented below, is apparent from the opening balance sheet 20 x 3).

ASSETS the carrying values of the tax temporary differences.

Fixed assets 4.2 million 4.5 million and 300,000.

200,000 800,000 1,000,000 intangible assets II.

Tangible fixed assets 3,000,000 2.700.000 300,000 III.

Long term investments of 500,000-700,000 200,000 IV.

Long-term accrued income 0 0 0 B.

Current assets 13.600.000 19.500.000-5.900.000.

The stocks of 5,000,000 funding-500,000 II.

Receivable 6,000,000 9,000,000-3,000,000 III.

Short-term investments 2.6 million 5 million-2.4 million TOTAL ASSETS 18.100.000 23.700.000 LIABILITIES of the tax balance sheet Values 5.600.000-temporary differences.

Capital 10,000,000 10,000,000 0 and.

Capital 4,000,000 4,000,000 0 II.

Deposit payable on capital 0 0 0 III.

Shares (shares) your own 0 0 0 IV.

Capital reserve 6.200.000 6.200.000 0 V.

Revaluation-500.000-500,000 0 VI.

Other reserves 0 0 0 VII.

Profit (loss) from previous years 0 0 0 VIII.

Net profit (loss) 300,000 300,000 0 B.

Liabilities and provisions for liabilities 8.1 million 6.400.000-1.700.000 and.

Provisions for liabilities 2,100,000 100,000-2,000,000 1.

The deferred income tax of 100,000 100,000 0 2.

Provision for pensions and similar 0-2,000,000 2,000,000 II.

Long-term liabilities 3,500,000 than-200,000 III.

Current liabilities to other units of 2,500,000 3,000,000 500,000 TOTAL LIABILITIES 18.100.000 16.400.000-1.700.000 Ad. 2 of annex a. out of temporary differences, established for the 31.12.20 X 3, there are temporary differences, which are the basis for the recognition of assets and of deferred income taxes, and non-temporary differences to assets and of deferred income tax asset temporary differences temporary differences taxable temporary differences negative taken into account in determining the reserves. deferred income tax are not included in determining the reserves. deferred income tax TIME taken into account in determining the assets. deferred income tax assets in determining the belt-Opposing. deferred income tax TIME.

Fixed assets 900.000 300,000 50,000 950,000-0-650,000 650,000.

Intangible 200,000 200,000 0 200,000 0 0 0 II.

Tangible assets permanently 300.000 450.000 50,000 500,000-200,000 0-200,000 III.

Long-term investments-200,000 250,000 0 250,000-450,000 0-450,000 IV.

Long-term accrued income 0 0 0 0 0 0 0 B.

Current assets-5.900.000 900,000 0 900,000-6.800.000 0-6.800.000 and.

Wrestling-500,000 0 0 0-0-500,000 500,000 II.

Receivables-3.000.000 0 500,000 500,000-3,500,000 0-3.5 million III.

Short-term investments-2.4 million to 400,000 0 400,000-2.800.000 0-2.800.000 TOGETHER-5.600.000 1,800,000 50,000 1.850.000-7.450.000 0-7.450.000 LIABILITIES.

Capital 0 0 0 0 0 0 0.

Capital 0 0 0 0 0 0 0 II.

Deposit payable on capital 0 0 0 0 0 0 0 III.

Shares (shares) your own 0 0 0 0 0 0 0 IV.

Capital reserve 0 0 0 0 0 0 0 V.

Revaluation 0 0 0 0 0 0 0 VI.

Other reserves 0 0 0 0 0 0 0 VII.

Profit (loss) from previous years 0 0 0 0 0 0 0 VIII.

Net profit (loss) 0 0 0 0 0 0 0 B.

Liabilities and provisions for liabilities-1.700.000


500.000 500.000 0-0-2,200,000 2,200,000 and.

Provisions for liabilities-2.000.000 0 0 0-0-2,000,000 2,000,000 1.

The deferred income tax of 0 0 0 0 0 0 0 2.

Provision for pensions and similar-2.000.000 0 0 0-0-2,000,000 2,000,000 II.

Long-term liabilities-0 0 0 200,000-200,000 0-200,000 III.

Current liabilities to other units of 500,000 500,000 0 0 0 0 500,000 TIME liabilities 1.700.000 0 500,000 500,000-0-2,200,000 2,200,000 Ad. 3 of annex a. Because tax law provides for a rate of 19% for the year 20 x 4 and at the same time does not specify other rates for subsequent years, you do not need an analysis of the way of the reversal of temporary differences.

Ad. 4 of annex a. Established assets and deferred income tax on 31.12.20 X 3: ASSETS temporary differences positive be taken into account when establishing the reserves. deferred income tax Rate deferred income tax temporary differences negative taken into account in determining the assets. deferred income tax Rate deferred tax assets and income.

Fixed assets 900.000 19% 171.000-650,000 19% 123.500 and.

Intangible 200,000 19% 0 38,000 19% 0 II.

Tangible fixed assets 19% 450,000 85,500-200,000 19% 38,000 III.

Long term investments 250,000 19% 47.500-450,000 19% 85,500 IV.

Long-term accrued income 0 0 0 19 19%% 0 B.

Current assets 900.000 19% 171.000-6.800.000 19% 1.292.000 and.

Stocks 0 19% 0-19% 500,000 95,000 II.

19% of the 500,000 claims 95,000-3.5 million 19% 665.000 III.

Short-term investments 400,000 19% 76,000-2.800.000 19% 532.000 TOTAL 1.8 million 19% 342.000-7.450.000 19% 1.415.500 LIABILITIES.

Equity 0 19% 0 0 19% 0 and.

Capital 0 0 0 19 19%% 0 II.

Deposit payable on capital 0 0 0 19 19%% 0 III.

Shares (shares) your own 0 19% 0 0 19% 0 IV.

Capital reserve 0 0 0 19 19%% 0 V.

Revaluation 0 0 0 19 19%% 0 VI.

Other reserves 0 19% 0 0 19% 0 VII.

Profit (loss) from previous years 0 0 0 19 19%% 0 VIII.

Net profit (loss) 0 0 0 19 19%% 0 B.

Liabilities and provisions for liabilities 500,000 19% of 95,000-2.2 million 19% 418.000 and.

Provisions for liabilities 0 19% 0-2,000,000 19% 380 k 1.

The deferred income tax 0 19% 0 0 19% 0 2.

Provision for pensions and similar 0 19% 0-2,000,000 19% 380 k II.

Long-term liabilities 0 19% 0-200,000 19% 38,000 III.

Current liabilities to the rest of the 500.000 units 19% 95,000 0 19% 0 TOTAL LIABILITIES 500,000 19% of 95,000-2.2 million 19% 418.000 item value calculation of the deferred tax assets: 1.833.500 1.415.500 + 418.000 deferred income taxes: 437.000 342.000 + 95,000 Ad. 5 of annex a., it was found that deferred tax assets in the amount of:-$ 1.738.500 relate to the operations included in the financial result – £ 95,000 concern operations included in revaluation capital (the effects of the valuation of available-for-sale financial assets included in revaluation capital).

It was found that the liability for income tax in the amount of $1,400,000 (previously recognised in the books) in the amount of $100,000 windfall gains and continuing operations in the amount of $1.3 million. In the enterprise there is discontinuing. The entire income tax liability i.e. a salary of $ will be presented under the heading "income tax".

Ad. 6 of annex a., it was found that it is likely that the tax base, will allow for the deduction of deductible temporary differences, in terms of justifying the valuation of deferred tax assets in the amount of $500,000. Therefore, the write-downs of deferred tax assets income are included in the amount of $1.333.500 (1.833.500-500.000 = 1.333.500).

The amount of the write-downs of deferred tax assets income refers to: – revaluation reserve in the amount of: (95.000/1.833.500) x 1.333.500 ≈ 69.093, – financial result in the remaining amount (1.333.500-900.000-69.093 = 364.407).

Assets and liabilities deferred tax is introduced to the books on the basis of internal evidence in the following way: the recognition of assets and liabilities deferred tax – posting on 31.12.20 X 3.

DT deferred tax assets 533.500 (1.833.500-1.3 million) DT deferred income tax 63,000 (500,000-437.000) CT revaluation 95,000 CT costs from income tax (continuing operations) 501.500 (533.500 + 63,000-95,000) the inclusion of write-downs of deferred tax assets income-post on 31.12.20 X 3.

DT costs from income tax (continuing operations) 364.407 (433,500-69.093) DT revaluation 69.093 CT write-downs of deferred tax assets income 433,500 (1.333.500-900.000) 1 the provisions of the standard applies to entities, regardless of the type of their activities. However, in the case of some units for example. banks, special accounting rules, laid down by the separate rules, can modify the provisions of the standard.

2 the determination of the tax base of assets and liabilities or items not included in the assets and liabilities is not possible without the knowledge of tax laws. Just apply the appropriate tax rates to determine the assets and of deferred income tax requires analysis of relevant tax laws. Hence, although the tax effects of transactions are recorded in accordance with the accounting principles, and the valuation of these effects is not possible without the knowledge of the relevant tax laws.

3 Adopted the concept of costs or revenues from income tax does not exhaust the definition of the concept of costs or revenues within the meaning of the accounting Act (article 3, paragraph 1, paragraphs 30 and 31 of the accounting Act). For the purposes of the Standard costs or income from income tax means only "total amount of the costs or revenues from income tax (current and deferred), to be taken into account in determining the net profit or loss for the reporting period". The reason for this approach is the desire to simplify the language standard. Therefore, the definition of the costs or revenues from income tax, included in the Standard, does not call into question the legitimacy of the definitions in article 2. 3 paragraphs 1 and 2. 1 paragraphs 30 and 31 of the accounting Act.

4 the future benefits of the asset may be subject to tax in the implementation phase of the benefits, or that the asset or assets resulting from the use of the asset. So for example. the benefits of fixed assets used for production purposes are derived from their use in the manufacturing processes. At the stage of manufacture of these benefits are not taxed. However, these benefits are taxed indirectly as a result of taxation tax revenues arising from the sale of products or services generated through the use of these assets.

As assets used for production purposes, the source of economic benefits are the assets used for management or sales or other purposes.

5 the creation policy of deferred income tax, set out in paragraph 8.1., provide for exceptions to the rule of creation of deferred income tax on taxable temporary differences.

6 in accordance with the definition of temporary differences in point 2, positive differences occur in the case of a surplus in the carrying amount of the assets over their tax base.


7 principles for recognising deferred tax assets income referred to in paragraph 9.1., provide for exceptions to the rule of recognition of deferred tax assets income from deductible temporary differences.

8 However, if not it is likely that income units in the future will allow the deduction of deductible temporary differences, these assets include, in whole or in part, coordinates allowance for impairment. The conditions for an instance of the impairment of deferred tax assets income referred to in paragraph 11.11-11.20. Standard.

9 in accordance with the definition of temporary differences in point 2, negative differences exist in the case of surplus tax values of assets over their carrying amount.

10 for the purposes of the standard, the concept of "assets from which benefits are not taxed" includes assets from which benefits are not taxed, and assets, from which all benefits will be part of income tax free.

11 See: art. 37 paragraph 2. 2 of the accounting Act.

12 another example, when the impact of the future benefits of the asset is not taxed is when revenue units are part of the revenue from income tax.

13 See section 11.11.-11.20. Standard.

14 See paragraph 1.3. Standard.

15 See paragraphs 11.6. -11.9. Standard.

16 however, if it is not probable that taxable entity in the future will allow the deduction of deductible temporary differences, these assets should be covered, in whole or in part, coordinates allowance for impairment. See section 11.11-11.20. Standard.

17 in accordance with the definition of temporary differences in point 2, negative differences occur in the case of a surplus in the carrying amount of liabilities over their tax base.

18 the name of "deferred" income tax obligation or duty is justified, that the claim or liability is not a legal claim, but in the future will be transformed in the payable debt or obligation.

19 However, if not it is likely that the future income of the unit will allow for deduction of tax losses, deferred tax assets impairment is made. Detailed criteria for determining when it is likely that the tax base will allow the deduction of deductible temporary differences and tax loss deduction is provided in paragraph 11.11-11.20. Standard.

20 the existence of tax loss, suffered in the recent past, is a factor in favor of this, that is not achieved income allowing the deduction of deductible temporary differences, unless the loss resulted from the identified events whose likelihood of recurrence is slim. See paragraph 11.15. Standard.

21 however, if it is not likely the deduction of income tax free or reductions of the tax base in the future, from deferred tax assets impairment is made. Detailed criteria for determining when it is likely the deduction of income tax free or when the tax base will decrease in the future, shown in paragraph 11.11. -11.20. Standard.

22 See paragraph 1.3. Standard.

23 due to the rounding of the rate of interest which occurred the difference between the value of the last payment and the value determined using the rate of 7% (49.998, 96).

24 was made round. Shall the amount determined by applying the rate of interest which is 49.998, 96.

25 the current value of the minimum lease payments is: Because this value is 89.46% of the value of the subject matter of the contract and the fair because no other criteria are met, financial leasing, the subject of the contract is recognized in the assets of the lessor.

26 See: art. 37 paragraph 2. 5 of the Act on accounting.

27 paragraph 8.1. shall, notwithstanding the amount of future tax bases, which as expected will be met by the taxpayer. The expectation of tax losses does not therefore constitute the basis for nieujmowania of deferred income tax, other reduction is not a cost of revenue, would result in the need for readjustment. Hence does not form of deferred income taxes in connection with the temporary differences related to goodwill, where depreciation, write-offs, or any other reduction is not a cost of obtaining revenue.

28 See: art. 37 paragraph 2. 4 of the Act on accounting.

29 See paragraph 1.5. standard.

30 for accounting purposes, it is assumed that the rate of depreciation is 2 x 1/6 = 1/3. In determining the depreciation you omit the residual value of the asset. Assume that, where the amount of the depreciation calculated using the accelerated method of the double is lower than the depreciation calculated using the linear method, not a change in the depreciation method.

31 See: art. 37 paragraph 2. 6 of the accounting Act.

32 in determining the appropriate tax rates must take into account the rate arising from the provisions adopted or issued but not yet in force; see point 1.3. Standard.

33 the rationale for this solution is analogous, as justification for the solutions applied in paragraph 11.8.; the justification for this are given in section 11.9.

34 the cost of income tax will be presented in the profit and loss account under the heading "income tax"; see: paragraph 17.2. Standard.

35 cost of income tax will be presented in the profit and loss account under the heading "income tax"; see: paragraph 17.2. Standard.

36 See article. 37 paragraph 2. 9 of the accounting Act.

37 See: art. 37 paragraph 2. 8 of the Act on accounting.

38 See: art. 54 paragraph 1. 3 of the Act on accounting.

39 See article. 37 paragraph 2. 7 of the accounting Act.

40 in the example are some of the reasons for (the tax loss in the prior year, the tax base 0 in the current year) and against (e.g. contracts concluded with customers) recognition of impairment losses assets deferred income tax. The information contained in the example are not sufficient to determine whether or not getting the benefits of deferred tax assets is likely.

Presented arguments however examine from the point of view of their potential impact on the expected height of the tax base. The existence of tax losses in the years preceding the financial year, as a result of other events than the event as a unique, provides strong indication suggesting that such losses may occur in the future. Therefore, in many cases, this will be an argument sufficient to cover the assets from deferred income tax accumulated impairment losses. In the present case, it was considered that the cost reduction as a result of the supply from the company will be so important, that, given that the agreement it is likely that the income which is reached by the company C will allow for the deduction of deductible temporary differences.

41 See: art. 47 paragraph 1. 3 of the Act on accounting.

42 See: Accounting Act, annex 1-additional information and explanations, point 1.8.

43 See: Accounting Act, annex 1-additional information and explanations, 1.11.

44 See: Accounting Act, annex 1-additional information and explanations, point 2.5.

45 See: Accounting Act, annex 1-additional information and explanations, 2.10.

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