Completing The National Interim Tax Process

Tax Provision allows you to prepare a full forecast provision using the year-to-date actual provision and an interim provision based on an effective rate approach (IAS 34). Tax Provision calculates the interim provision based on an estimated annualized effective tax rate, which is then multiplied by the year-to-date pre-tax book income.

The following table outlines the IAS 12 National Interim tax process in Tax Provision:

Note: If an owner of a partnership is locked for input, the partnership calculations will fail if changes are submitted to the partnership entity. You can correct this by running the failed partnership calculations for the partnership entity from the Tax Calculations interface once the lock on the owner is released.

Updating asset depreciation schedules

This section applies to Canadian entities and explains the input apps required to process depreciable assets for the tax year. You cannot deduct the cost for depreciable assets in the year of purchase; the deductions are claimed as the asset depreciates over time. Tax Provision includes several input apps and reports to facilitate in calculating Capital Cost Allowance for depreciable assets. These include:

• Capital Cost Allowance Forecast input app (NF1921)
• Cumulative Eligible Capital Forecast input app (NF1922)
• CCA Restricted Pools Forecast input app (NF1923)
• CCA Unrestricted Pools Forecast input app (NF1924)

These input apps and their related reports are identical to those for the national actual tax process.

For information on updating interim asset depreciation, see Updating and reviewing asset depreciation.

Updating and reviewing the national forecasted current tax charge

The forecasted national current tax charge is the sum of the tax charges for the Actual time period and the Interim time period (remainder of the year).

For more information on the calculation used, see Updating and reviewing the current tax charge.

Current Tax Charge Forecast input app (NF1201)

Use this input app to review and post adjustments to the automated pre-tax income and permanent and temporary difference amounts.

This input app includes Analyze functionality. For more information, see Analyzing data for automation source information.

This input app contains the following symbols in the Elements dimension (across):

• GrsCY_IAS — Current Year (Income Statement)

  This column represents the Actuals time period.

• GrsCYIP_IAS — Interim Current Year (Income Statement)

  This column represents the Forecasted time period (for the remainder of the year).

• GrsCYFcst_IAS — Forecast Current year (Income Statement)

  This column represents the calculated Forecasted total for the current year.

• GrsCYForecast_IAS — Forecast Current Year Input

  This column represents the input Forecasted total for the current year.

To update the forecast current tax charge:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1201 - Current Tax Charge Forecast.lvapp. The input app opens in the workspace.

   Note: Values input in the Interim Current Year are adjustments to the results calculated from Forecast Current Year Input.

5. Expand the TaxIncomeBeforeLoss_IAS — Taxable Income/(Loss) Before Losses category, and enter data for the following symbols:

1. NIBTAdjxx — Company-specific: IFRS Net Profit/(Loss) Before Tax Adjustments. These accounts are specific to your company.

2. GPerm — GAAP to STAT Permanent Differences: All symbols under this parent symbol are adjustments to GAAP/IFRS to STAT permanent differences. Every calculated permanent difference has an associated manual adjustment account. For example, Meals & Entertainment - Adjustment.

3. GTemp — GAAP to STAT Temporary Differences: All symbols under this parent symbol are adjustments to GAAP/IFRS to STAT temporary differences.

4. StPerm — STAT to Tax Permanent Differences: All symbols under this parent symbol are adjustments to STAT to Tax permanent differences.

5. PensIS_IAS — Pensions: Current tax income statement pension adjustment.

6. NatCurrent_SBPAcChg_IAS — SBP’s – Accounting Charge: Share Based Payments – Accounting Charge adjustment.

7. NatCurrent_SBPDed_IAS — SBP’s – Sch 23 Deduction: Share Based Payments – Tax Deduction adjustment.

8. OthIncTax — Other Income Taxes: Other income taxes to deduct.

6. Expand the LTCapLossT — Total Long Term Capital Loss Carryforward category, and enter data for the following symbols:

1. LTCapLossNC — Long Term Capital Loss Carryforward - Non-Current: Non-current long term capital losses carried forward from the previous year.

2. LTCapLossCY — Long Term Capital Loss Carryforward - Current: Current long term capital losses carried forward from the previous year.

7. Expand the NLossT_IAS — Total Losses category and enter data for the following symbols:

1. NLossCYGA_IAS — Tax Loss - CY Generated - Adjustment: Manual adjustment for the calculated net operating loss.

2. NLossCYU_IAS — Tax Loss - CY Utilized: Utilization of an existing net operating loss carryforward in the current period.

3. NLossCA_IAS — Tax Loss - Consolidating Adjustment: Impact of any consolidated level adjustment to net operating losses at the legal entity level.

8. For SpecDedM — Special Deductions - Manual, enter any additional deductions not included in income taxes or tax losses.
9. Expand the TaxCrPrmT — Total Tax Credits - Permanent category, and enter data for the following symbols:

1. TaxCrForPrmM — Foreign Tax Credits - Permanent - Manual: Permanent national foreign tax credits.

2. NatTaxCrForPrmCY — Creditable Foreign Tax Credits - Permanent: Permanent creditable national foreign tax credits.

3. NatTaxCrForPrmNC — Non- creditable Foreign Tax Credits - Permanent: Permanent non-creditable national foreign tax credits.

4. TaxCrPrmOth — Other Tax Credits - Permanent - Manual: Other permanent national tax credits.

10. Expand the TaxCrT — Total Tax Credits - Temporary category, and enter data for the following symbols:

1. TaxCrForM — Foreign Tax Credits - Temporary - Manual: Temporary national foreign tax credits.

2. NatTaxCrForCY — Creditable Foreign Tax Credits - Temporary: Creditable national foreign tax credits.

3. NatTaxCrForNC — Non-creditable Foreign Tax Credits - Temporary: Non-creditable national foreign tax credits.

4. TaxCrAMT — US Alternative Minimum Tax: US Alternative Minimum Tax (AMT).

5. GenBusCr — General Business Credits: General business credits.

6. TaxCrOth — Other Tax Credits - Temporary - Manual: Other temporary national tax credits.

11. Expand the AddPrv_IAS — Additional Charges category, and enter data for the following symbols:

1. NatAddCurrentM001_IAS — Other Additional Charges: This account can be used to enter any other additional charges that impact the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

2. NatAddCurrentM002_IAS — Other Taxes: This account can be used to enter any other taxes (e.g. capital taxes, foreign taxes) that impact the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

3. NatAddCurrentM003_IAS — Tax Holiday: This account can be used to enter the impact of any Tax Holidays from jurisdictions in which there is currently no tax rate or a lower tax rate. The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

4. NatAddCurrentM004A_IAS — UTP Tax - Permanent Differences - National: Use this symbol to manually enter the tax impact from National level Uncertain Tax Positions(UTP) related to permanent differences. The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

5. NatAddCurrentM004B_IAS — UTP Tax - Temporary Differences – National: Use this symbol to manually enter the tax impact from National level Uncertain Tax Positions (UTP) related to temporary differences. The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

6. NatAddCurrentM005_IAS — UTP Interest: Use this symbol to manually enter the current period interest accrued related to National level Uncertain Tax Positions (UTP). The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

7. NatAddCurrentM006_IAS — UTP Penalty: Use this symbol to manually enter the current period penalties related to National level Uncertain Tax Positions (UTP). The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

8. NatAddCurrentM007_IAS — UTP National Tax re: Interest Paid: Use this symbol to manually enter the current period interest paid related to National level Uncertain Tax Positions (UTP). The value entered impacts the current tax charge and Effective Tax Rate report. The value in this account is entered on an after tax basis.

12. When you are finished, click Submit.

Current Tax Charge Forecast report (NF1201)

Use this report to review the automated pre-tax income and permanent and temporary difference amounts.

This report contains the same symbols in the Elements dimension (across) as “Current Tax Charge Forecast input app (NF1201)”.

To review the forecasted current tax charge:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1201 - Current Tax Charge Forecast.rtp. The report opens in the work- space.
5. Review the account values for each element.

Updating and reviewing the national forecast gross temporary differences rollforward activity

The forecasted national temporary differences are the sum of the ending actual temporary difference balance and the ending interim gross temporary difference balance.

Understanding elements for temporary differences

The elements in the Temporary Difference input app change depending on the method you are using. Elements that may appear in the Temporary Differences Forecast (NF1301) input app include the following:

• Temporary Differences Forecast elements
• Temporary Differences Forecast - Recognised - Unrecognised elements
• Recognised Temporary Differences Forecast - Scheduling elements

Temporary Differences Forecast elements

Use these elements to forecast temporary difference balances for the purpose of the interim calculation.

• GrsBOY_IAS — Opening Balance

  This column represents the ending gross temporary difference of the prior year end. It is populated through the annual and monthly rollover process.

• GrsPYAdj_IAS — Prior Year Adjustments

  Use this column to enter prior year adjustments relating to individual temporary differences when the detailed prior year adjustment true-up method is not adopted.

• GrsRTPCurDfd_IAS — True Up

  This column represents the current year true-up from the Prior Year Adjustment input app (NA1101). The tax impact of this adjustment is treated as an adjustment that impacts the deferred charge with an equal but opposite adjustment to the current tax charge. Amounts in this column do not impact the overall tax charge or effective tax rate. This column is automated from the Return to Provision column in the Prior Year Adjustment input app (NA1101).

• GRSPYT_IAS — Prior Year Adjustments

  This column represents total prior year adjustments and is the sum of GrsPYAdj_IAS and GrsRTPCurDfd_IAS.

• GrsBOYA_IAS — Opening Balance as Adjusted

  This column represents total opening balance as adjusted and is the sum of GrsBOY_IAS and GRSPYT_IAS.

• GrsAcqPR_IAS — Acquisitions Prior

  This column represents gross temporary differences acquired during the previous year. This adjustment impacts only the deferred tax balance and not the deferred charge.

• GrsAcqCur_IAS — Acquisitions Gross

  This column represents the temporary differences acquired. The tax impact of this amount is reflected in symbol NetNAcqCur_IAS on the Deferred Tax Account report (NA1401). The tax impact of this is a non-tax charge adjustment and has no impact on the total tax charge. This element is used to record current period acquisitions entered in the Acquisitions input app (NA1303).

• GrsAcq_IAS — Acquisitions

  This column represents the total acquisitions and is the sum of GrsAcqPR_IAS and GrsAcqCur_IAS.

• GrsDisp_IAS — Disposals

  This column represents gross temporary differences that are disposed of during the year. This adjustment impacts only the deferred tax balance and not the deferred charge. You must enter values for this column manually.

• GrsCY_IAS — Current Year (Income Statement)

  This column represents the current year income statement activity for temporary differences. Enter the current year movement difference in the Current Tax Charge schedule and it automatically flows to the Temporary Difference elements.

• GrsCYOthCurDfd_IAS — Other Adjustments (CT & DT Impact)

  This column allows you to make adjustments to the gross temporary differences other than the current year or true-up adjustments. This adjustment impacts both current and deferred charges with an equal but opposite adjustment to the current tax charge. As a result, amounts entered into this column do not impact flow to the overall tax charge or Effective Tax Rate report. You must enter values for this column manually.

• GrsCYOthDfd_IAS — Other Adjustments (DT Impact)

  This column allows you to make adjustments to the gross temporary difference other than the current year or true-up adjustments. The tax impact of this adjustment is treated as a deferred only tax charge adjustment and flows into the Effective Tax Rate report. You must enter values for this column manually.

• GrsCYTrfr_IAS — Transfers

  This column represents transfers of gross temporary differences, which you can use to transfer temporary differences between entities, reclass temporary differences between current and non-current accounts, or for other reasons. You must enter values for this column manually.

• GrsCYT_IAS — Total Current Year Movement

  This column represents the total current year movement and is the sum of GrsCY_IAS, GrsCYOthCurDfd_IAS, GrsCYOthDfd_IAS, and GrsCYTrfr_IAS.

• GrsEq_IAS — Equity

  This column represents equity temporary difference movements. The tax impact of this adjustment is treated as a deferred only adjustment. You must enter values for this column manually.

• GrsRTPEqCurDfd_IAS — True up (CT & DT Impact of Equity Items)

  This column represents the current year true-up from the Prior Year Adjustment input app (NA1101) IFRS equity adjustment accounts. The adjustment impacts both current and deferred charges.

• GrsEQOth_IAS — Other Equity

  This column allows you to track other equity temporary difference movements. The tax impact of this adjustment is treated as a deferred only adjustment.

• GrsCTABOY_IAS — Exchange Difference (Opening Balance)

  This column appears in the Temporary Differences report and is populated when viewing a translated currency for the entity. It is calculated on the difference between the beginning of year deferred tax asset / (liability) translated at the beginning of year spot rate and the end of year average rate.

• GrsCTACY_IAS — Exchange Difference (Movement)

  This column appears in the Temporary Differences report and is populated when viewing a translated currency for the entity. It is calculated on the difference between the end of year deferred tax asset / (liability) is translated at the end of year spot rate, the current year activity related to the deferred tax asset / (liability) is based on the average rate and the end of year average rate.

• GrsCTAT_IAS — Exchange Difference

  This column is the total exchange difference and is the sum of GrsCTABOY_IAS and GrsCTACY_IAS.

• GrsEqT_IAS — Total Equity

  This column represents total equity and is the sum of GrsEq_IAS, GrsRTPEqCurDfd_IAS, and GrsEQOth_IAS.

• GrsOCI_IAS — OCI

  Use this column to enter OCI temporary difference movements for accounts classified as OCI. The tax impact of this adjustment is treated as a deferred only adjustment.

• GrsRTPOCICurDfd_IAS — True Up (CT & DT Impact of OCI Items)

  This column represents the current year true-up from the Prior Year Adjustment input app (NA1101) IFRS OCI adjustment accounts. The adjustment impacts both current and deferred charges.

• GrsOCIOth_IAS — Other OCI

  Use this column to track other OCI temporary difference movements. The tax impact of this adjustment is treated as a deferred only adjustment.

• GrsCTABOY_IAS — Exchange Difference (Opening Balance)

  This column is populated when viewing a translated currency for the entity. It is calculated on the difference between the beginning of year deferred tax asset / (liability) translated at the beginning of year spot rate and the end of year average rate.

• GrsCTACY_IAS — Exchange Difference (Movement)

  This column is populated when viewing a translated currency for the entity. It is calculated on the difference between the end of year deferred tax asset / (liability) is translated at the end of year spot rate, the current year activity related to the deferred tax asset / (liability) is based on the average rate and the end of year average rate.

• GrsOCIT_IAS — Total OCI

  This is the total OCI amount.

• GrsUDiff_IAS — Unexplained - Impact Provision

  This column represents the unexplained difference amount required to calculate the tax basis difference.

  Note: This column applies to Income accounts only.

  The value in this column equals the expected ending balance minus the tax basis balance sheet adjustment less any activity already input or any activity automatically populated within the gross temporary difference rollforward for each temporary difference.

  A value is present in this column if the automate temporary difference ending balances process is selected for the entity and the temporary difference account is also using the automate current tax amounts process for the same temporary difference account.

  Any remaining value in this column should be classified using one of the various activity columns provided as part of the gross temporary difference rollforward.

  This column automatically updates as data is submitted to the other gross temporary difference columns, ensuring that the ending balance is based on the expected ending balance less the tax basis balance sheet adjustment.

• GrsUDiffEq_IAS — Unexplained – Equity

  This column represents the unexplained difference amount required to arrive at your tax basis difference.

  Note: This column applies to Equity accounts only.

  The value in this column equals the expected ending balance minus the tax basis balance sheet adjustment less any activity already input or any activity automatically populated within the gross temporary difference rollforward for each temporary difference.

  A value is present in this column if the automate temporary difference ending balances process is selected for the entity and the temporary difference account is also using the automate current tax amounts process for the same temporary difference account.

  Any remaining value in this column should be classified using one of the various activity columns provided as part of the gross temporary difference rollforward.

  This column automatically updates as data is submitted to the other gross temporary difference columns, ensuring that the ending balance is based on the expected ending balance less the tax basis balance sheet adjustment.

• GrsEOY_IAS — Ending Balance - Unadjusted

  This column represents the gross temporary difference balance at the end of the year and is the sum of GrsBOYA_IAS, GrsAcq_IAS, GrsDisp_IAS, GrsCYT_IAS, GrsEqT_IAS, GrsUDiff_IAS, and GrsUDiffEq_IAS.

• GrsCYIP_IAS — Interim Current Year (Income Statement)

  This column represents the current year gross temporary difference balance for the Forecasted time period (for the remainder of the year).

• GrsCYOthCurDfdIP_IAS — Interim Other Adjustments (CT & DT Impact)

  This column allows you to make adjustments to the forecast gross temporary difference that does not impact the annualized effective tax rate. This adjustment impacts the deferred tax charge with an equal but opposite adjustment to the cur- rent tax charge. You must enter values for this column manually.

• GrsCYOthDfdIP_IAS — Interim Other Adjustments (DT Impact)

  This column allows you to make adjustments to the forecast gross temporary difference that impact the annualized effective tax rate. This adjustment impacts the deferred tax charge and flows to the forecast tax expense report to calculate the annualized effective tax rate. For more information on the forecast tax expense report, see “Forecast Tax Expense report (NF1802)”. You must enter values for this column manually.

• GrsEOYIP_IAS — Interim Ending Balance - Unadjusted

  This column represents the end of year Interim gross temporary difference balance.

• GrsEOYFcst_IAS — Forecast EOY Balance

  This column represents the end of year gross temporary difference balance for the Forecasted time period (for the remainder of the year).

Temporary Differences Forecast - Recognised - Unrecognised elements

Use these elements to enter the portion of the ending interim gross temporary difference balance that is short-term recognisable (within twelve months), long-term recognisable, or not recognisable.

These elements appear in the input app:

• GrsCYIP_IAS — Interim Current Year (Income Statement)

  This column represents the current year gross temporary difference balance for the Forecasted time period (for the remainder of the year).

• GrsCYOthCurDfdIP_IAS — Interim Other Adjustments (CT & DT Impact)

  This column represents adjustments to the forecast gross temporary difference that do not impact the annualized effective tax rate.

  For more information on these symbols, see Temporary Difference elements.

• GrsCYOthDfdIP_IAS — Interim Other Adjustments (DT Impact)

  This column represents adjustments to the forecast gross temporary difference that impact the annualized effective tax rate.

  For more information on these symbols, see Temporary Difference elements.

• GrsEOYIP_IAS — Interim Ending Balance - Unadjusted

  This column represents the end of year Interim gross temporary difference balance.

• GrsURIP_IAS_Input — Interim Unrecognisable Amounts - Input

  This column represents the portion of the interim ending gross temporary difference balance that is unrecognisable.

  Note: If the value in element GrsEOY_IAS or GrsEOYIP_IAS is less than 0, do not enter a value for this element.

• GrsURIP_IAS_Calc — Interim Unrecognisable Amounts – Calculated

  This column is calculated when either the Temporary Difference Classification Default system setting is set to NR or the setting in element TDClassOverride is set to NR for an account. The calculation is equal to the value in element GrsEOYIP_IAS less the value in elements GrsRIP_IAS and GrsURIP_IAS_Input.

• GrsURIP_IAS — Interim Unrecognisable Amounts

  This column represents the unrecognised interim temporary difference amounts and is the sum of GrsURIP_IAS_Input and GrsURIP_IAS_Calc.

• GrsRIP_IAS_Input — Interim Recognisable Amounts - Input

  This column represents the portion of the interim ending gross temporary difference balance that is recognisable.

• GrsRIP_IAS_Calc — Interim Recognisable Amounts – Calculated

  This column is calculated when either the system setting Temporary Difference Classifica- tion Default is not set to NR and the setting in element TDClassOverride is not set to NR for an account. The calculation is equal to the value in element GrsEOYIP_IAS less the value in elements GrsUR_IAS and GrsRIP_IAS_Input.

• GrsRIP_IAS — Interim Recognisable Amounts

  This column represents the recognisable interim temporary difference amount and is the sum of GrsRIP_IAS_Input and GrsRIP_IAS_Calc.

• GrsTotRIP_IAS — Interim Total Recognisable and Unrecognisable

  This column represents the gross total of the interim unrecognisable and recognisable classifications.

Recognised Temporary Differences Forecast - Scheduling elements

For entities configured to use scheduling because of fluctuating deferred tax rates over the coming years, there is an additional step required. You must schedule the ending interim gross temporary difference balance based on when the balance is expected to reverse. To ensure the scheduled balance matches the ending interim balance, the fifth year column is protected from input and is calculated as equal to the ending interim gross temporary difference balance less the values specifically scheduled in years one through four. The scheduled values are multiplied by the applicable scheduling rate to calculate the proper ending interim deferred tax balance.

For more information on scheduling rates, see Scheduling Tax Rates input app (XNC0204 or XNC1204).

If you are using scheduling, the following elements appear in the input app:

• GrsCYIP_IAS — Interim Current Year (Income Statement)

  This column represents the current year gross temporary difference balance for the Forecasted time period (for the remainder of the year).

• GrsCYOthCurDfdIP_IAS — Interim Other Adjustments (CT & DT Impact)

  This column allows you to make adjustments to the forecast gross temporary difference that does not impact the annualized effective tax rate. This adjustment impacts the deferred tax charge with an equal but opposite adjustment to the cur- rent tax charge. You must enter values for this column manually.

• GrsCYOthDfdIP_IAS — Interim Other Adjustments (DT Impact)

  This column allows you to make adjustments to the forecast gross temporary difference that impact the annualized effective tax rate. This adjustment impacts the deferred tax charge and flows to the forecast tax expense report to calculate the annualized effective tax rate.

  For more information on the forecast tax expense report, see Forecast Tax Expense report (NF1802). You must enter values for this column manually.

• GrsEOYIP_IAS — Interim Ending Balance - Unadjusted

  This column represents the end of year Interim gross temporary difference balance.

• GrsURCIP_IAS — Interim Unrecognisable

  This column represents the portion of the total interim gross temporary difference balance that is identified as unrecognisable in the Temporary Differences Forecast - Recognised - Unrecognised elements. The value in this column is equal to the values entered as unrecognisable in NF1305 multiplied by -1.

• GrsEOYRIP_IAS — Interim Ending Balance - Recognisable

  This column represents the recognised ending interim gross temporary difference balance and is equal to the value in GrsEOYIP_IAS less the value in GrsCRUIP_IAS. The value in this column is equal to the values entered as both short-term and long-term recognisable in the Temporary Differences - Recognised - Unrecognised report (NA1305) multiplied by -1.

• GrsEOY1IP_IAS — Interim Amt Reversing in Year 1 

  This column represents the interim amount reversing in the first year. You must enter values for this symbol manually.

• GrsEOY2IP_IAS — Interim Amt Reversing in Year 2

  This column represents the interim amount reversing in the second year. You must enter values for this symbol manually.

• GrsEOY3IP_IAS — Interim Amt Reversing in Year 3

  This column represents the interim amount reversing in the third year. You must enter values for this symbol manually.

• GrsEOY4IP_IAS — Interim Amt Reversing in Year 4

  This column represents the interim amount reversing in the fourth year. You must enter values for this symbol manually.

• GrsEOY5IP_IAS — Interim Amt Reversing in Year 5

  This column represents the end of year interim balance minus amounts reversing in prior years. This symbol is calculated (GrsEOYIP_IAS - GrsEOY1IP_IAS - GrsEOY2IP_IAS - GrsEOY3IP_IAS - GrsEOY4IP_IAS).

• GrsTYrIP_IAS — Interim Total Amount Reversing

  This column represents the total interim amount reversing over the five year period. This symbol is calculated (GrsEOY1IP_IAS+ GrsEOY2IP_IAS+ GrsEOY3IP_IAS + GrsEOY4IP_IAS + GrsEOY5IP_IAS).

Temporary Differences Forecast (NF1301) input app

Use this input app to forecast temporary difference balances for the purpose of the interim calculation. Use this app only if your company forecasts temporary differences as part of the interim process. If your company does not forecast temporary differences as part of the interim process, this input app is not required.

This input app includes Analyze functionality. For more information, see Analyzing data for automation source information.

To update temporary differences:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity.

   For more information, see Using the Symbol Selector.

4. Click NF1301 - Temporary Differences National Forecast.lvapp. The input app opens in the workspace.
5. Update the appropriate accounts for each appropriate element.

   For information on the elements in this input app, see Temporary Difference elements.

Temporary Differences Forecast report (NF1301)

Use this report to view the forecast temporary difference balances for the purpose of the interim calculation. This report is required only if your company forecasts temporary differences as part of the interim process.

To review temporary differences:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1301 - Temporary Differences Forecast.rtp. The report opens in the work- space.
5. Review the account values for each element.

Recognised Temporary Differences Forecast - Scheduling report (NF1302)

Use this report to view the scheduled ending interim gross temporary difference balance based on the year(s) in which the balance is expected to reverse.

This report contains the Scheduling elements. For more information, see Recognised Temporary Differences Forecast - Scheduling elements.

To review scheduled recognised temporary differences:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1302 - Recognised Temporary Differences Forecast - Scheduling.rtp. The report opens in the workspace.
5. Review the account values for each element.

Temporary Differences Forecast - Recognised - Unrecognised report (NF1305)

Use this report to view the portion of the ending interim gross temporary difference balance that is short-term recognisable (within twelve months), long-term recognisable, or not recognisable.

This report contains the following symbols in the Elements dimension (across):

• “Temporary Difference elements”
• “Temporary Differences Forecast elements”
• their parent total GrsEOYFcst_IAS — Forecast Ending Balance - Unadjusted
• “Temporary Differences - Recognised - Unrecognised elements”
• “Temporary Differences Forecast - Recognised - Unrecognised elements”
• their parent total GrsTotRFcst_IAS — Forecast Total

To review recognised/unrecognised temporary differences:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1305 - Temporary Differences Forecast - Recognised - Unrecognised.rtp. The report opens in the workspace.
5. Review the account values for each element.

Temporary Differences Recognised Forecast report (NF1306)

Use this report to view the recognised portion of the temporary difference national forecast.

To review recognised temporary differences:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1306 - Temporary Differences Recognised Forecast.rtp. The report opens in the workspace.
5. Review the account values for each element.

Temporary Differences Classification Forecast report (NF1307)

Use this report to view the classification of the ending interim balance between asset, liability, and not recognisable.

To review the temporary differences classification:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1307 - Temporary Differences Classification Forecast.rtp. The report opens in the workspace.
5. Review the account values for each element.

Reviewing the deferred tax rollforward national forecast reports

Use the Deferred Tax Rollforward Forecast reports to view the forecasted and recognised forecasted deferred tax charge, ending balances used for the interim calculations, and the year-to-date deferred tax rollforward.

Deferred Tax Account Forecast report (NF1401)

Use this report to view the forecasted deferred tax charge and ending balances used for the interim calculation.

To review the deferred tax charge and ending balances:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1401 - Deferred Tax Account Forecast.rtp. The report opens in the work- space.
5. Review the account values for each element.

Deferred Tax Recognised Forecast - Scheduling report (NF1402)

Use this report to view the forecasted deferred tax charge and ending balances used for the interim calculation for an entity using scheduling.

To review the forecasted deferred tax charge and ending balances:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector
4. Click NF1402 - Deferred Tax Recognised Forecast - Scheduling.rtp. The report opens in the workspace.
5. Review the account values for each element.

Deferred Tax Recognised Forecast report (NF1403)

Use this report to view the recognised forecasted deferred tax charge and ending balances used for the interim calculation.

To review the recognised forecasted deferred tax charge and ending balances:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1403 - Deferred Tax Recognised Forecast.rtp. The report opens in the workspace.
5. Review the account values for each element.

Deferred Tax Classification Forecast report (NF1406)

Use this report to view the recognised forecasted deferred tax charge and ending balances used for the interim calculation.

To review the deferred tax classification:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1406 - Deferred Tax Classification Forecast.rtp. The report opens in the workspace.
5. Review the account values for each element.

Deferred Tax Recognised Percentage Interim report (NF1407)

Use this report to view the calculated recognised percentages for deferred tax accounts. This is the percentage of the end of year total that is recognised.

To review the deferred tax recognised percentages:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1407 - Deferred Tax Recognised Percentage Interim.rtp. The report opens in the workspace.
5. Review the account values for each element.

Updating the interim effective tax rate and exceptional items

Using the information from the current and deferred tax charge reports (actuals and interim), as well as interim account settings, Tax Provision calculates a deferred estimated annualized effective tax rate for each legal entity.

ETR and Exceptional Items Interim input app (NF1803)

Use this input app to make adjustments to the system-calculated estimated annualized effective tax rate and enter any exceptional items.

This input app contains the following symbol in the Elements dimension (across):

• GrsCY_IAS — Current Year (Income Statement)

  This column represents the current year income statement activity for temporary differences.

To update ETR and Exceptional items:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1803 - ETR and Exceptional Items Interim.lvapp. The input app opens in the workspace.
5. Expand the NatIPETRCUR_Input — Interim Current ETR Adjusted category and enter data for the following account:

1. NatIPETRCURA_Input — Interim Current ETR Adjustment: Input adjustment to the calculated interim current ETR.

6. Expand the NatIPETRDFR_Input — Interim Deferred ETR Adjusted category and enter data for the following account:

1. NatIPETRDFRA_Input — Interim Deferred ETR Adjustment: Input adjustment to the calculated interim deferred ETR.

7. Expand the NatDscCurT_IAS — Total Adjustments Current Tax category and enter data for the following account:

1. NatDscC00x — Current Tax Impact of One-Time Adjustment: Input up to five exceptional adjustments to the current tax.

8. Expand the NatDscDfdT_IAS — Total Adjustments Deferred Tax category and enter data for the following account:

1. NatDscD00x_IAS — Deferred Tax Impact of One-Time Adjustment: Input up to five exceptional adjustments to the deferred tax.

9. When you are finished, click Submit.

Reviewing the consolidated interim effective tax rate

If your company has created custom sub-consolidation or consolidation hierarchies, you can use the following reports to review the interim effective tax rate for these entities:

Consolidated Current Effective Rate Interim report (NF1805)

Use this report to review the consolidated interim effective rate for accounts classified as current for the selected parent entity.

This report contains the selected Entities hierarchy in the across orientation.

To review the Consolidated Current Effective Rate Interim report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the sub-consolidation or consolidation parent entity to report on. For more information, see Using the Symbol Selector.
4. Click NF1805 - Consolidated Current Effective Rate Interim.rtp. The report opens in the workspace.
5. Review the interim consolidated current effective tax rate for accounts classified as Current.

Consolidated Deferred Effective Rate Interim report (NF1806)

Use this report to review the consolidated deferred interim effective rate for accounts classified as Non-Current for the selected parent entity.

This report contains the selected Entities hierarchy in the across orientation.

To review the Consolidated Deferred Effective Rate Interim report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the sub-consolidation or consolidation parent entity to report on. For more information, see Using the Symbol Selector.
4. Click NF1806 - Consolidated Deferred Effective Rate Interim.rtp. The report opens in the workspace.
5. Review the interim consolidated current effective tax rate for accounts classified as Non-Current (deferred).

Reviewing the effective tax rate and interim tax charge

Use these reports to view the following:

• the estimated annual effective tax rate for the current and/or deferred tax charge
• the total current and deferred interim tax charge
• the allocation of the total interim deferred income tax charge to each temporary difference and carryforward account
• the year-to-date deferred tax
• the classified deferred tax rollforward

Forecast Tax Expense report (NF1802)

Use this report to view the estimated annual effective tax rate for the current and/ or deferred tax charge.

To review the Forecast Tax Expense report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1802 - Forecast Tax Expense.rtp. The report opens in the workspace.
5. Review the account values for each element.

ETR and Exceptional Items Interim report (NF1803)

Use this report to view the adjustments made to the system-calculated interim effective tax rate, and any exceptional items.

To review the interim ETR and Exceptional Items report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1803 - ETR and Exceptional Items Interim.rtp. The report opens in the workspace.
5. Review the account values for each element.

Interim Allocation report (NF1804)

Use this report to view the allocation of the total interim deferred income tax charge to each temporary difference and carryforward account.

To review the Interim Allocation report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1804 - Interim Allocation.rtp. The report opens in the workspace.
5. Review the account values for each element.

Deferred Tax Recognised Interim report (NF1404)

Use this report to view a year-to-date deferred tax based on an effective rate approach.

To review the interim Deferred Tax Recognised report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1404 - Deferred Tax Recognised Interim.rtp. The report opens in the work- space.
5. Review the account values for each element.

Deferred Tax - for Tax Account Rollforward Interim report (NF1405)

Use this report to view a classified deferred tax rollforward based on an effective rate approach for current assets, current liabilities, non-current assets, and non-current liabilities, along with their related reclass adjustments.

This report contains the following symbols in the Elements dimension (across):

• RecNEOYCLSSIP_IAS — Interim Closing Deferred Tax Asset/(Liability) - Recognised

  This parent contains the same symbols as the “Deferred Tax Recognised Forecast report (NF1403)”.

• RecNClassIP_IAS — Interim National Tax Classification - Recognised

  The parent element of the classified deferred tax rollforwards for Current Asset - Recognised, Current Liability - Recognised, Non-Current Asset - Recognised, and Non-Current Liability - Recognised, along with their related reclass adjustments.

To review the national interim Deferred Tax - for Tax Account Rollforward report:

1. In the Tax Provision navigation pane, click Reports.
2. Expand National Interim.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NF1405 - Deferred Tax - for Tax Account Rollforward Interim.rtp. The report opens in the workspace.
5. Review the account values for each element.