Summary

Getting Started

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Lucanet Lume

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User Interface of Income Taxes

Modules and Additional Functions in Income Taxes

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Master Data

Company

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Deferred Taxes

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Other Deferred Taxes - Company

Summary

TRR - Company

Reports in the 'Company' Area

OBD

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(Sub-) Group

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Pillar 2

Country-by-Country Reporting

First Steps in Pillar 2 and CbCR

Tax Balance

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Glossary

The summary summarizes the calculation of deferred taxes and can be used as a posting template. Both the balances and the value movements (P&L/OCI) are displayed. The current taxes are not shown in this dialog.

The summary is divided into the following table areas:

Deferred taxes summary

Comprehensive Income

Deferred taxes (current period)/Deferred taxes (prior period)

Change in deferred taxes (without corrections)

The Summary workspace can be found under Company | Deferred Taxes | Summary.

The Summary workspace is displayed, for example, as follows:

The Summary is divided into areas, which are described in the table below.

The Summary can be structured for individual companies and may display additional areas.

The following areas are displayed in the Summary:

The top table area consists of the following five columns:

The data source is shown in detail in the Deferred taxes (current period) table area [bottom row: Total].

Data source: Others workspace

Data source: Others workspace

Areas:

Other

Prior year adjustments – OCI

Adjustments GTC DT opening balances

The data source is shown in detail in the table area Deferred taxes (prior period) [bottom row: Total]

Difference between Prior Period [4] and Current Period [1] – incl. corrections

The individual categories of Other Comprehensive Income are created and managed in the Administration master data workspace. Based on the assignment made in the CoA Group master data workspace, Income Taxes assigns the OCI effects to the individual categories. The result is displayed in a separate area in the Summary.

The Deferred taxes (current period) / Deferred taxes (prior period) table area shows the composition of deferred taxes based on the individual workspaces (e. g. LCF and IFRS - Local GAAP workspaces in the balance sheet comparison).

The Deferred taxes (current period) or Deferred taxes (prior period) area is displayed, for example, as follows:

Deferred taxes for the current period/the prior period in the income statement

The following results are displayed, among others, in the Deferred taxes (current period) and Deferred taxes (prior period) areas:

Row	Data source/Description
Total deferred tax assets and liabilities from B/S Comparison - Netting	Netting of effects calculated in opposite directions across workspaces (e. g. IFRS - Local GAAP and Local GAAP - Tax Balance) for the same balance sheet item. Not to be confused with the cross-item netting of deferred tax assets and liabilities.
Unrecognised deferred tax assets (tax losses/tax credits)	Allowances from the LCF workspace. Not to be confused with the allowance of deferred tax assets from the balance sheet comparison.
Other deferred tax assets and liabilities	Data source: Other (Deferred Taxes) workspace Area: Changes to the accrual area
Valuation allowance on other deferred taxes	Data source: Other (Deferred Taxes) workspace Area: Valuation allowance on other deferred taxes Entry of allowances for the excess of deferred tax assets from the balance sheet comparison
Offsetting	Offsetting of deferred tax assets and liabilities in consideration of the maturity. Long-term deferred tax assets are netted with long-term deferred tax liabilities.

In the Companies master data workspace, the Deliver deferred taxes option can be activated. In this case, the disposal and addition of deferred taxes will each be displayed in the Summary. This topic is relevant, among others, for local balance periods in connection with tax group members.