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Chapter 12
Deferred tax: Specific situations
3.1 Revaluations
Deferred tax should be recognised on asset revaluations, even if there is no intention
to sell the asset.
Revaluation gains are recorded in other comprehensive income and so any deferred
tax arising on the revaluation must also be recorded in other comprehensive income.
Illustrations and further practice
Now try TYU question 4 from Chapter 12
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