Which classifications of assets or liabilities can a Taxable Individual choose to make adjustments to in accordance with the Transitional Regulations?
- It is an intangible asset as defined in the International Financial Reporting Standards (IFRS), that meets all of the following conditions:
- It is owned prior to the first Tax Period.
- It is measured in the Financial Statements on a historical cost basis.
- It is disposed of or deemed to be disposed of during or after the first Tax Period, for a value exceeding the net book value.
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