Impact of U.S. Tax Reform on Deferred Taxes
First written in FY2018-Q3. 1 of 2 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2019-Q1.
Daiichi Life Group moved to the "Worse" side of this theme in 2018.
0 other companies' latest entry also says "Materialised".
- FY2019-Q1MaterialisedAnnual report
「Although the 2017 tax reform in the United States reduced the corporate tax burden, profit declined because payments of insurance claims and other amounts increased in the life insurance business, owing in part to the spread of influenza.」
The company explained that the impact of the previously disclosed U.S. tax reform was reflected in earnings as a reduction in the corporate tax burden at the U.S. subsidiaries. - FY2018-Q3First statedAnnual report
「Following the enactment of the U.S. tax reform law on 22 December 2017, the U.S. federal corporate tax rate was set to decrease from 35% to 21% effective January 2018. Accordingly, for temporary differences and other items at the U.S. subsidiaries that are expected to reverse from January 2018 onward, the tax rate used to calculate deferred tax assets and deferred tax liabilities will change from the previous rate of 35% to 21%. The impact on the current consolidated fiscal year is currently under review because the temporary differences and other items at the end of the fiscal year have not yet been finalized.」
The reduction in the U.S. corporate tax rate from 35% to 21% is expected to affect deferred tax assets and liabilities at the U.S. subsidiaries, but the impact is still being reviewed because the temporary differences at year-end have not been finalized.