Deloitte round table: Deferred tax reporting in banks
The event took place on 22 October 2013
On Tuesday, 22 October Deloitte CIS held a round table on deferred tax reporting in banks at its office in Moscow. This event was held in connection with the RF Central Bank’s intention to introduce a new requirement for banks to report deferred taxes in accordance with RAS standards starting from 2014, something most banks are not yet prepared for. Our specialists shared their extensive knowledge of deferred tax to the 120 event attendees from the banking community, who included representatives of nine of Russia’s ten largest banks.
A highlight of the event was a debate with developer of the draft Regulation Vladimir Volkov, Deputy Director of the Accounting and Reporting department of the RF Central Bank. The lively discussion lasted over an hour, during which time Mr. Volkov responded to a variety of topical questions, and stressed the need for banks to be prepared for the upcoming changes.
Following that, Deloitte Audit partner Anna Golovkova and Tax & Legal director Vladimir Yumashev described the approach to calculating and recording deferred taxes, and our Tax & Legal director Elena Bostan summarised the temporary and permanent effects such legislation generally has on banks.
Presentation: Deferred tax reporting in banks (PDF file in Russian)