Deferred tax
Deferred tax is recognised using the balance sheet method, reflecting temporary differences between the carrying amounts of assets and liabilities and the amounts used for tax purposes. The amount of deferred tax is based on the expected realisation or settlement of assets and liabilities, using tax rates enacted or substantially enacted at the balance sheet date. Deferred tax is not discounted.
A deferred tax asset for tax losses is only recognised to the extent that it is probable that future taxable profits will be available, enabling the asset to be realised. Deferred tax assets are derecognised if it is no longer probable that they can be realised.
Source: Annual Report 2008, Chapter Financial Statements, page 156 (PDF, 179 kB)
Add to My report