Septiembre 2011

Income tax

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  The initial recognition of goodwill.
  

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  The initial recognition of an asset or a liability in a transaction that is not a business combination and that does not affect either accounting profit (loss) or taxable profit (tax loss).
  

Deferred tax assets arising from deductible temporary differences and tax loss and tax credit carryforwards are only recognised to the extent that it is probable that the company will have taxable profits in the future against which the deferred tax assets can be utilised, except when they arise from:

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  The initial recognition of an asset or a liability in a transaction that is not a business combination and that does not affect either accounting profit (loss) or taxable profit (tax loss).
  

At the end of each reporting period, the company reassesses the deferred tax assets recognised and those not recognised in prior periods.

Measurement and classification

Deferred tax assets and liabilities are measured using the tax rates that are expected to apply at the date of their reversal, based on the tax legislation which has been enacted or substantially enacted at the end of the reporting period.

Deferred tax assets and liabilities must not be discounted and are classified as non-current assets and liabilities.

Lastly, when a business combination is initially accounted for and no deferred tax assets are recognised but these assets are then recognised at a subsequent date, the following criteria apply:

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  Deferred tax assets recognised in the measurement period (generally one year) that result from new information obtained about circumstances that existed at the time of the combination reduce any goodwill.
  

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  Deferred tax assets recognised after the measurement period, or recognised in this period but based on facts that did not exist at the time of the combination, do not give rise to goodwill adjustments and are generally recognised in profit or loss.