So I get that for Assets, the following statement is true
(Carry Val – Tax base) x tax rate = net DTL created
My logic is that if Carrying Val > Tax Base, then naturally a DTL is created.
Am i right in assuming that the statement is reversed for tax base/carrying values of liabilities? Am I right in assuming that the below statement is true?
(Carry Val – Tax base) x tax rate = net DTA created