Please any body can give the suggession to calculate the deferred tax under following situationThe company earned profit after tax in 2006 100 m , 2007 112 m & 2008 85m and tax rate was 30%, 35% and 30% respectively. at the end of 2008 the company given the jurnal of prior years adjustment of tk 10 m relation to 2006 of 5m 2007 of m . the company does not calculate the deferred tax in any of the previous year.
under above circumstances how deferred tax will be calculated
ThanksDear Md zak,
I am unable to understand your query. For calculation of deferred tax, IFRS requires balance sheet method. For this, I would require the details of your balance sheet like WDV of assets, Provisions created, etc. Also, the same details would be required wrt accounts prepared under taxation rules applicable.
Thanks and Regards,