IFRS Notes

Tax base

Tax base of an asset
Amount to be deductible against (1) for tax purposes

(1) taxable economic benefits
that will occur when the carrying amount of an asset is recovered

If there will be no taxable economic benefits,
tax base of an asset = carrying amount of an asset

Tax base of a liability = (1) - (2)

(1) carrying amount of a liability
(2) future deductions due to that liability

Revenue received before it is earned = liability
Tax base of such a liability = (1) - (2)

(1) carrying amount of liability
(2) non-taxable portion of revenue