Features	IAS 12/IFRS	VAS 17
Recognition of current income tax payable and current tax assets	Current tax for the current and prior periods, if not paid, should be recognized as a liability. The excess will be recognized as an asset if the amount paid concerning the current and previous periods exceeds the amount payable for that period.
Recognition of deferred tax liabilities and deferred tax assets	A deferred tax asset/liability is recognized for all taxable/deductible temporary differences, except: 1) The deferred tax liability arises from the initial recognition of goodwill; 2) Initial recognition of an asset or liability in a transaction that does not arise in a business combination and affects neither accounting profit nor taxable profit at the time of the transaction; 3) Differences relating to investments in subsidiaries, branches, associates, and investments in joint ventures (e.g., arising from undistributed profits), due to The timing of the reversal of such differences can be controlled by the company, the reversal may not occur in the near future, and taxable profit will cover the differences.	The Standard covers only one situation when a deferred tax asset arises from the initial recognition of an asset or a liability in a transaction that does not affect accounting profit at the time of the transaction. Taxable profit and taxable profit (tax loss), no taxable differences or temporary tax deductions are required.
Unused tax losses, unused tax incentives	Deferred tax assets are recognized for unused tax losses and unused tax credits only to the extent that it is probable that future taxable profit will be available to offset the unused tax losses or unused tax incentives.
Value confirmation	Current income tax payable (or current tax asset) for the current and prior years is determined at the amount expected to be paid (or recovered from) by the tax authority, using tax rates (and tax laws) in effect at the balance sheet date. (paragraph 32.VAS17) Deferred tax assets and deferred tax liabilities should be measured at the expected tax rates for the year in which the asset is recovered, or the liability is settled, based on tax rates (and tax laws) in effect at the balance sheet date.
Record current tax payable and deferred tax	When different tax rates are applied to each level of taxable profit, the deferred tax assets and liabilities are determined using the average tax rate expected to apply to the taxable profit (tax loss). Of the periods for which the temporary differences are expected to reverse.	No mention of this issue.
Record current tax payable and deferred tax	Current and deferred tax should be recognized as an income or expense in the income statement, except when the tax arises from a transaction or other event recorded directly in equity; or business combination.	The Standard does not provide specific guidance on accounting for current and deferred tax when a tax liability arises from a business combination.
Present deferred tax assets and deferred liabilities	No mention of this issue. However, it is customary to present deferred tax assets/liabilities as long-term assets/liabilities.	The Standard requires that deferred tax assets and liabilities be presented separately from other and current assets and liabilities. Deferred tax assets (liabilities) are not classified as current assets (liabilities).