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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
PIB 3 Capital
PIB 3 Part 4 — Calculating Capital Resources
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

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  Versions
(1 version)
 
Dec 9 2012 onwards

PIB 3.13.10



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) An Authorised FirmG must apply a risk weight in accordance with PIB chapter 4 as applicable, to deferred tax assets that do not rely on future profitability.
(2) For the purpose of (1), deferred tax assets that do not rely on future profitability comprise the following:
(a) overpayments of tax by the Authorised FirmG for the current year;
(b) current year tax losses of the Authorised FirmG carried back to previous years that give rise to a claim on, or a receivable from, a central government, regional government or local tax authority; and
(c) deferred tax assets arising from temporary differences which, in the event the Authorised FirmG incurs a loss, becomes insolvent or enters liquidation, are replaced, on a mandatory and automatic basis in accordance with the applicable national law, with a claim on the central government of the jurisdiction in which the Authorised FirmG is incorporated which must absorb losses to the same degree as CET1 Capital instruments on a going concern basis and in the event of insolvency or liquidation of the Authorised FirmG .
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]