Webinars On-Demand

IFRS for SMEs Section 29 Income Tax - Webinar on demand

This webinar on demand is part of a series of webinars. Click here to read more

Overview   

As part of the 2015 updates to the IFRS for SMEs, the calculation of deferred tax in terms of Section 29 of the IFRS for SMEs was fully aligned with IAS 12 Income Taxes in full IFRS. The amendments were effective from 1 January 2017.  

We know that many accounting and tax practitioners find deferred tax calculations tedious and it is clearly not a favourite topic of many. That is why we have brought in an expert to take an in-depth look at the correct approach to take when calculating income taxes, especially the principles relating to the calculation of deferred tax.  

After this webinar you will see that deferred tax calculations CAN be understood clearly! 

This webinar is part of a series on IFRS for SMEs. The series will cover selected IFRS for SMEs topics that every accounting professional should fully understand in their day to day work. If you are interested in booking for the entire series, click here.  

Learning objectives  

By the end of this event the participant should: 

• Understand the purpose of IFRS for SMEs Section 29 Income Tax. 

• Understand the contents of the Standard; 

• Understand how to correctly calculate deferred tax;  

• Understand how to calculate income taxes; and 

• Know how to practically apply the Standard as a whole.  

Content 

The webinar will cover the following topics:  

• Introduction to IFRS for SMEs Section 29 Income Taxes. 

• Recognition of current tax assets and tax liabilities.  

• Measurement of current tax assets and tax liabilities. 

• Deferred tax:  

  • Recognition. 

  • Presentation. 

  • Tax bases of assets and liabilities. 

  • Temporary differences. 

  • Discounting deferred tax assets and liabilities. 

  • Offsetting and when it's allowed.