Description

Swiss GAAP FER 11 “Income taxes” contains rules regarding the treatment of current and future income tax effects. A distinction is made between the calculation of current income taxes and deferred taxes. Current income taxes on the corresponding profit have to be calculated with the effective tax rate and are to be recognised in the financial statements or the notes. The annual accrual of deferred taxes is based on a balance sheet perspective. Deferred tax liabilities are to be classified as tax provisions, and deferred tax assets are to be classified as financial assets, each separately. Deferred tax expenses are to be shown in the earnings statement.