Change in deferred tax calculations following a reduction in the statutory effective tax rate
First written in FY2017-Q3. 1 of 2 entries say "Restated". Latest entry: FY2017.
The whole theme swung hardest in 2018: 6 of 36 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2017RestatedAnnual report
「The statutory effective tax rate used to calculate deferred tax assets and deferred tax liabilities will change from the previous rate of 32.8% to 30.7% for temporary differences expected to reverse in the consolidated fiscal years beginning 21 March 2017 and 21 March 2018, and to 30.5% for temporary differences expected to reverse in the consolidated fiscal years beginning 21 March 2019 and thereafter.」
The company continues to disclose that the statutory effective tax rate was changed from 32.8% to 30.7% or 30.5%, depending on when the temporary differences are expected to reverse. - FY2017-Q3First statedAnnual report
「Accordingly, the statutory effective tax rate used to calculate deferred tax assets and liabilities has changed from 32.8% to 30.7% for temporary differences expected to reverse in the consolidated fiscal years beginning 21 March 2017 and 21 March 2018, and to 30.5% for temporary differences expected to reverse in the consolidated fiscal years beginning on or after 21 March 2019.」
Following tax reforms, the statutory effective tax rates used to calculate deferred tax assets and liabilities have been changed according to the expected timing of their reversal.