imposte prepagate/differite

English translation: Deferred tax assets/deferred tax liabilities

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:imposte prepagate/differite
English translation:Deferred tax assets/deferred tax liabilities
Entered by: Alison Kennedy

13:12 Nov 24, 2019
Italian to English translations [PRO]
Bus/Financial - Accounting / Italian GAAP terminology OCI standards and Italian civil code rules Notes to FS
Italian term or phrase: imposte prepagate/differite
Items in consoidated financial statement notes for International food group. I need help in the translation of this term under the terminology of IT-GAAP (OCI standards) and civil code rules, in the context of temporary differences. My dilemma is whether to use the term "prepaid/deferred taxes" or DTA and DTL, respectively, which would appear to be more IFRS.
Any help much appreciated.
Alison Kennedy
Italy
Local time: 21:00
Deferred tax assets/deferred tax liabilities
Explanation:
This is indeed the terminology used in IAS 12 Income Taxes.
Selected response from:

Irene (Renata) Liapis
United States
Grading comment
Manythanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
5Deferred tax assets/deferred tax liabilities
Irene (Renata) Liapis


  

Answers


10 days   confidence: Answerer confidence 5/5
Deferred tax assets/deferred tax liabilities


Explanation:
This is indeed the terminology used in IAS 12 Income Taxes.

Example sentence(s):
  • IAS 12 requires an entity to recognise a deferred tax liability or (subject to specified conditions) a deferred tax asset for all temporary differences, with some exceptions.

    Reference: http://https://www.ifrs.org/issued-standards/list-of-standar...
Irene (Renata) Liapis
United States
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GreekGreek
PRO pts in category: 4
Grading comment
Manythanks!
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