Correct tax provisioning requires the proper calculation of current tax and deferred tax. For many finance professionals, the concepts underlying current tax and deferred tax are not intuitive. Applying these concepts requires a thorough knowledge of the relevant income tax laws as well as the application of FRS 12 “Income Taxes”. While the income tax laws take a mechanistic approach to the computation of current and deferred taxes, significant judgement is still required in some areas. The application of deferred tax under FRS 12 has always been rather challenging even for the more experienced finance professionals.

Co-organised by Wolters Kluwer and BDO LLP, this one-day workshop will cover the more challenging aspects of tax provisioning and accounting for deferred taxes under FRS 12.

Through a combination of interactive discussions and numerous case studies, the workshop will address key application issues related to both current and deferred taxes, highlight significant practical difficulties, and provide insights on the possible solutions and key steps required to resolve certain problematic areas in tax provisioning.

Programme Outline

• The Concept of Tax Provisioning
• Determining Deferred Taxes
• Defining Uncertain Tax Positions and Avoiding Pitfalls
• Disclosure in Financial statements

Date: Thursday, 17 March 2016
Time: 9.00 am - 5.00 pm