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Deferred tax calculation

International Financial Reporting Standards (IFRS) require that an entity presents in its financial statements both current and deferred tax liabilities and assets. Deferred tax is an accounting concept (also known as future income taxes), meaning a future tax liability or asset, resulting from temporary differences or timing differences between the accounting value of assets and liabilities and their value for tax purposes.
IFRS has never been an accountant’s favourite subject - the combination of unusual terminology and the concepts of tax can leave those trying to account for deferred tax feeling confused and frustrated. In-house accountants often struggle with the practical application of IFRS.

Your situation:

  • You want development of in-house expertise (tax and accounting function) on deferred tax;
  • You wish to raise an awareness of the deferred tax implications of day-to-day bookings;
  • You want to ensure comfort that deferred tax liabilities/assets are properly calculated and presented in the financial statements;
  • You want to explore possibilities for more efficient planning and understand the implications of deferred tax payment.

Our services:

  • Providing training tailored to the specifics of your business, level of knowledge and experience of your tax and accounting department staff;
  • Calculation of deferred tax assets/liabilities under IFRS, both for stand-alone and consolidated financial statements;
  • Review of deferred tax calculation performed by the company, both under IFRS and for internal group reporting purposes;
  • Advising on deferred tax implications of planned future transactions and items that will appear in financial statements;
  • Analysis of specific complex deferred tax issues and identification of possible solutions.

Contact us

Branka Rajicic

Partner, Tax and Legal services

Tel: +381 11 3302 100

Dragan Draca

Partner, Tax Services

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