Impact of U.S. Tax Reform on Deferred Tax Assets and Corporate Income Taxes
First written in FY2018-Q1. 3 of 5 entries say "Restated". Latest entry: FY2023.
0 other companies' latest entry also says "Dropped".
- FY2023DroppedAnnual reportNo separate disclosure concerning the impact of U.S. tax reform on deferred tax assets and income taxes was identified in the description of business risks and operating results for the fiscal year.
- FY2018RestatedAnnual report
「In the United States, tax reform legislation was enacted on 22 December 2017 (local date), centered on reducing the federal corporate tax rate from 35% to 21% for periods beginning on or after 1 January 2018. As a result, the Group's U.S. subsidiaries revalued their deferred tax assets using the amended tax rate, reducing deferred tax assets by ¥146 million, reducing the foreign currency translation adjustment account by ¥4 million, and increasing income tax adjustments by ¥142 million during the consolidated fiscal year.」
The Company disclosed the revaluation of deferred tax assets and the increase in income tax adjustments resulting from U.S. tax reform as the full-year impact. - FY2018-Q3RestatedAnnual report
「In the United States, tax reform legislation was enacted on 22 December 2017 (local date), centered on reducing the federal corporate tax rate from 35% to 21% for periods beginning on or after 1 January 2018. As a result, the Group's U.S. subsidiaries revalued their deferred tax assets using the amended tax rate, reducing deferred tax assets by ¥294 million, reducing the foreign currency translation adjustment account by ¥1 million, and increasing income taxes by ¥293 million during the cumulative third quarter of the current consolidated fiscal year.」
The Company continued to disclose the revaluation of deferred tax assets and the increase in income taxes resulting from U.S. tax reform as the cumulative third-quarter impact. - FY2018-Q2RestatedAnnual report
「In the United States, tax reform legislation was enacted on 22 December 2017 (local date), centered on reducing the federal corporate tax rate from 35% to 21% for periods beginning on or after 1 January 2018. As a result, the Group's U.S. subsidiaries revalued their deferred tax assets using the amended tax rate, reducing deferred tax assets by ¥283 million, increasing the foreign currency translation adjustment account by ¥11 million, and increasing income taxes by ¥294 million during the cumulative second quarter of the current consolidated fiscal year.」
The Company continued to disclose the revaluation of deferred tax assets and the increase in income taxes resulting from U.S. tax reform as the cumulative second-quarter impact. - FY2018-Q1First statedAnnual report
「In the United States, tax reform legislation was enacted on 22 December 2017 (local date), centered on reducing the federal corporate tax rate from 35% to 21% for periods beginning on or after 1 January 2018. As a result, the Group's U.S. subsidiaries revalued their deferred tax assets using the amended tax rate, reducing deferred tax assets by ¥301 million and increasing income taxes by ¥301 million during the cumulative first quarter of the current consolidated fiscal year.」
Following the enactment of tax reform legislation including the reduction in the U.S. federal corporate tax rate, the revaluation of deferred tax assets and the increase in income taxes actually occurred.