IFRS for SMEs / Section 29: Income Tax
Section 29: Income Tax
Section 29 recognises current tax on the period's taxable profit and deferred tax on temporary differences.
Disclosures to look for
- 29.39 The major components of the tax expense.
- 29.40(c) An explanation of the relationship between the tax expense and accounting profit.
Third edition (2025 changes)
- Uncertainty over income tax treatments (29.34A–29.34D).
How Sight applies it
The taxation note reconciles tax at 27% to the charge; the pre-flight blocks when a profit has no tax provision.
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