Deferred tax I – basic principles

Who are the intended participants?

• Accountants, analysts, and internal audit or economic department employees who want to get some practical training in these topics

Programme

• Income taxes and their reporting
• Deferred tax under CAS and IFRS
• All about income tax for deferred tax purposes
• Deferred tax – basic principles of calculation
  • Temporary vs. permanent differences
  • Tax base
• Procedure for calculating deferred tax and determining deferred tax on most common items (provisions, adjustments, differences between the book and tax values of fixed assets, tax losses carried forward)
• Recognition of deferred tax assets and related changes in estimate

Benefits

During the course, you will:

• Understand the nature and logic of deferred tax
• Become able to identify from the calculation of current tax the areas that give rise to deferred tax and calculate deferred tax (the principle of calculation is identical for both Czech accounting legislation and IFRS)
• Know whether it is possible to recognise a deferred tax asset.