+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forum-accounting-and-audit)
+--- Thread: Change in tax rate effect on Opening deferred tax asset (/thread-change-in-tax-rate-effect-on-opening-deferred-tax-asset)
Change in tax rate effect on Opening deferred tax asset - Dard - 02-10-2015
Only Qualified Individuals reply please.
If there is an opening deferred tax asset of Rs. 110,000 at 34% as at January 2014 and closing deferred tax at 254,000 at 33% as at December 2014 (Calculated using the Statement of Financial Position Method), do we need to apply the closing tax rate of 33% to the opening deferred tax asset?
I will be thankful.