Regulatory Alerts1999-09-09
Added · Updated
Compliance with the revised IAS-12
Leasing companies must provide deferred tax liability for each year from July 1, 1998, to June 30, 2003, plus an additional amount equal to one-fifth of the unprovided deferred tax liability as of June 30, 1999. Alternatively, companies may transfer the aggregate required amount to a Capital Reserve, which is restricted solely for providing deferred tax liability. The regulator retains the discretion to relax or modify these requirements if a leasing company demonstrates an inability to fully comply.
Topics
Share