Artículo 5. IAS 12 Paragraph 5

The following terms are used in this Standard with the meanings specified: Accounting profit is profit or loss for a period before deducting tax expense . Taxable profit ( tax loss ) is the profit (loss) for a period, determined in accordance with the rules established by the taxation authorities, upon which income taxes [ Refer: paragraph 2 ] are payable (recoverable). Tax expense ( tax income ) is the aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax. Current tax is the amount of income taxes [ Refer: paragraph 2 ] payable (recoverable) in respect of the taxable profit (tax loss ) for a period. Deferred tax liabilities are the amounts of income taxes [ Refer: paragraph 2 ] payable in future periods in respect of taxable temporary differences . Deferred tax assets are the amounts of income taxes [ Refer: paragraph 2 ] recoverable in future periods in respect of: (a) deductible temporary differences ; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. Temporary differences are differences between the carrying amount of an asset or liability in the statement of financial position and its tax base . Temporary differences may be either: (a) taxable temporary differences , which are temporary differences that will result in taxable amounts in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled; or [ Refer: paragraphs 15⁠–⁠23 Illustrative Examples Part A paragraphs 1⁠–⁠18 ] (b) deductible temporary differences , which are temporary differences that will result in amounts that are deductible in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled. [ Refer: paragraphs 24⁠–⁠33 Illustrative Examples Part B paragraphs 1⁠–⁠13 ] The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. [ Refer: paragraphs 7⁠–⁠11 ]