Discussion of ‘Making Deferred Taxes Relevant’

Erlend Kvaal

Accounting in Europe, 2018, vol. 15, issue 2, 231-241

Abstract: In this discussion of Brouwer and Naarding's article ‘Making Deferred Taxes Relevant’, which is published in this issue of Accounting in Europe, I question several aspects of their proposal to change the tax accounting standard. I argue that a quest for more value relevance of individual balance sheet items is not a good guideline for accounting standard setting. The distinction between book-first and tax-first temporary differences may be helpful for some analytical purposes, but it is not sufficiently robust to serve as a basis for an accounting standard. However, I agree with the authors that the efforts to improve IAS 12 should not be abandoned.

Date: 2018
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DOI: 10.1080/17449480.2018.1473618

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