Is tax payable a working capital (WC) element, or should it be included in net interest bearing debt (NIBD)? What about deferred tax assets and liabilities?
I think tax payable is included in working capital. I forget about DTAs
Working capital is simply Current Asset - Current Liability. Tax Payable is part of current liability. Deferred tax assets/liabities can be carried over multiple years, thus they’re not current and not included in WC.