Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred taxation is provided using the liability method on all timing differences which are expected to reverse in the future without being replaced, calculated at the rate which it is anticipated the timing differences will reverse.
Deferred taxation assets are only recognised if recovery without replacement by equivalent debit balances is reasonably certain.