Income Taxes (PAS 12)

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    1. Accrue deferred tax liability for nearly all taxable temporary differences.

    2. Accrue deferred tax asset for nearly all deductible temporary differences if it is probable a tax benefit will be realized.

    3. Accrue unused tax losses and tax credits if it is probable that they will be realized.

    4. Use tax rates expected at settlement.

    5. Current and deferred tax assets and liabilities are measured using the tax rate applicable to undistributed profits.

    6. Non-deductible goodwill: no deferred tax.

    7. Unremitted earnings of subsidiaries, associates, and joint ventures: Do not accrue tax.

    8. Capital gains: Accrue tax at an expected rate.

    9. Do not "gross up" government grants or other assets or liabilities whose initial recognition differs from the initial tax base.

      Reference:
      Summaries of International Accounting Standards - ICJCE. https://www.icjce.es/images/pdfs/TECNICA/C02%20-%20IASB/C203%20-%20IFRS%20y%20SIC/Summaries%20of%20International%20Accounting%20Standards.doc
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