In order to have an idea of what isa deferred tax asset, it is first of all necessary to understand what is the content of the concept of deferred tax, which the enterprise must pay with the profits received. In the most general sense, this tax acts as an obligation arising from an enterprise or organization in the future. Moreover, the main reasons for their emergence are the current problems in the field of the state of economic activity and payment of taxes.
This, to some extent, a conditional tax, cancalculated according to the financial statements of the enterprise or organization, as a rule, it is equal to the actual tax that must be paid by the economic entity in this tax period.
With such calculations,the difference between the tax and accounting data, because they use different valuation techniques. These differences are temporary, but in the future they may lead to inconsistencies in the estimates of assets and liabilities, in the amounts of expenses and revenues that are taken into account in calculating taxes.
Calculations of this conditional tax are made,as a rule, using three methods. The method of deferral is that the deferred tax is established in accordance with the rate of income tax, which is legalized at the time of recognizing the difference. In the Russian Federation, this method of calculation was applied until 2010, then, in accordance with the provisions on accounting, the liability method was applied. This method involves accounting for the liabilities of the enterprise or the company on profits and losses. There is also a third method - the balance method, which consists in comparing the valuations of values according to the tax and accounting data.
Based on this, a deferred tax assetrepresents that portion of the deferred tax that objectively leads to a reduction in the amount of tax paid by the enterprise or organization to profit and which must be paid according to the current legislation in the next reporting period and beyond.
The entity recognizes a deferred tax asset inthe time when the temporary differences already mentioned are formed, and provided that further, in the coming tax periods, it will receive a profit from which it will be able to pay the tax. In accounting, a deferred tax asset is recorded taking into account the amount of all such differences, exceptions are only cases where these differences are not reduced or completely eliminated.
The formula by which such deferredtax liabilities, has the form: Ho = BP x StH, where: Ho - the amount of the deferred asset, BP - the indicator of the temporary difference, StN - the value of the tax rate, which is currently established by law.
In the accounting system deferred tax assets -These are indicators that are reflected as autonomous in a separate account, which is intended to record and reflect deferred assets for taxes. It is also important that, as already mentioned, these assets are taken into account autonomously in accounting, that is, separately for each type of asset, which is the source of the temporary difference in valuation.
The differences themselves are formed as a result:
- the application of various depreciation calculation methodologies that a particular enterprise or organization uses in accounting;
- recognition of revenue from goods sold in the form of income from the ordinary business of the enterprise;
- in the event of a violation of the rules for the payment of income tax by an enterprise or organization;
- the use of inconsistent rules and standards reflect the interest that the company or organization pays for loans and borrowings.
In the accounting system, such assets are shown by reverse transactions: on the charge of Dt 77 - Ct 68 and, respectively, on the repayment of Dt 68 - Ct 77.
