{ "vercy": "1.0-draft", "publication": { "status": "research-draft", "adjudicationStatus": "unreviewed", "publishableCanonical": false, "generatedAt": "2026-09-12T09:03:05Z", "providers": [ "Codex" ], "breadth": "recalled by Codex without web access - no source was read", "missingProviders": [], "pass": 2, "cost": { "grok": { "seconds": 22.9, "error": "Reading additional input from stdin...\nOpenAI Codex v0.153.4\n--------\nworkdir: R:\\02_PROJECTS\\02_Meta_Models_Platforms\\Ver.cy\\current\\thing-registry-backlog\nmodel: gpt-6-astra\nprovider: openai\napproval: never\nsandbox: read-only\nreasoning effort: none\nreasoning summaries: none\nsession id: 01a094da-14ae-7483-9986-5e26536bce36\n--------\nuser\nDescribe what is already known about one registered thing. Answer as JSON only, no prose around it.\n\nThing: deferred tax\nSense to describe: (none recorded)\nDomain code: XCT.STA\nAlso known as: (none)\n\n\nContext for this batch of 1001 things:\n# Batch 043: 1001 re", "usd": 0.0, "recall": true }, "codex": { "seconds": 70.8, "error": "Reading additional input from stdin...\nOpenAI Codex v0.153.4\n--------\nworkdir: R:\\02_PROJECTS\\02_Meta_Models_Platforms\\Ver.cy\\current\\thing-registry-backlog\nmodel: gpt-6-astra\nprovider: openai\napproval: never\nsandbox: read-only\nreasoning effort: none\nreasoning summaries: none\nsession id: 01a094da-14a4-7070-9adf-64f22de8bd3d\n--------\nuser\nYou are drafting a Vercy meta-model for one registered thing. Answer as JSON only, no prose around it.\n\nThing: deferred tax\nRegistry id: vr.tr.deferred-tax\nPlane / domain: XCT / XCT.STA\nRegistry definition: (none recorded)\nNames folded into this entry: (none)\n" } }, "enrichment": { "pass": 3, "engine": "claude", "producedAt": "2026-10-06T12:00:00Z", "ingestedAt": "2026-10-06T08:44:00+00:00", "fields": [ "agent_conduct", "ethics", "failure_modes_and_hazards", "owners", "standards_and_regulation" ] }, "gate": { "passed": true, "version": "1.0", "at": "2026-10-07T10:10:25+00:00", "evidence": [ "completeness 1.00", "sense: Wikidata description", "2 live sources", "review by codex: pass" ] } }, "metaModel": { "id": "THING-Q1032875", "registryId": "vr.tr.deferred-tax", "name": "deferred tax", "version": "0.1.0-research.1", "entryKind": "thing", "family": "Thing Registry", "domain": [ "XCT.STA" ], "status": "research-draft" }, "canonicalUrl": "https://ver.cy/models/thing/q1032875/", "model": { "registry_id": "vr.tr.deferred-tax", "name": "deferred tax", "purpose": "Enable an agent to identify deferred income-tax consequences, assess their recognition and measurement, and determine what evidence or accounting action is required.", "definition": "Deferred tax is the accounting recognition of future income-tax consequences arising from differences between the carrying amounts of assets and liabilities and their tax bases, and from unused tax losses and credits, subject to the applicable recognition rules.", "scope_statement": "This model owns deferred tax as an accounting concept and reporting position arising from differences between financial-reporting and tax bases, together with eligible unused tax losses and credits, while keeping recognition and measurement dependent on the applicable reporting framework and tax jurisdiction.", "in_scope": [ "Taxable and deductible temporary differences associated with assets and liabilities", "Deferred tax assets and liabilities, including recognition exceptions and restrictions", "Unused tax losses and credits potentially supporting deferred tax assets", "Measurement using applicable tax rates and expected recovery or settlement", "Evidence supporting deferred tax asset recoverability", "Deferred tax movements, presentation, offsetting and disclosures" ], "out_of_scope": [ "Current income-tax liabilities, receivables and tax-return preparation", "Payment extensions or instalment arrangements for taxes already payable", "Underlying asset valuation and liability recognition except as inputs to deferred tax", "Tax planning implementation and legal interpretation of tax legislation", "Taxes outside the applicable income-tax accounting framework", "Standalone accounting for uncertain tax positions, except where their treatment affects deferred tax inputs" ], "distinguishing_features": [ "A position concerns future income-tax consequences of recognised transactions or eligible carryforwards, rather than merely an unpaid current tax bill.", "A difference between carrying amount and tax base must be assessed for future tax consequences; a permanent difference does not itself create deferred tax.", "A potential deferred tax asset requires a separate recognition and recoverability assessment; identifying a deductible amount alone does not establish a recognised asset.", "An accounting deferred tax liability is distinguishable from an agreement with a tax authority to defer payment.", "The applicable accounting framework can change recognition, measurement and presentation, so an otherwise identical economic position is not fully specified without its reporting basis." ], "characteristics": [ { "name": "Reporting framework", "kind": "category", "unit_or_values": "Named accounting framework, applicable version and reporting date", "why_it_matters": "Determines recognition thresholds, exceptions, rate requirements and presentation rules." }, { "name": "Tax attribution", "kind": "relation", "unit_or_values": "Taxpayer or tax group, taxing authority, jurisdiction and income-tax regime", "why_it_matters": "Constrains which taxable profits, deductions and balances can interact." }, { "name": "Origin of deferred tax", "kind": "category", "unit_or_values": "Taxable temporary difference; deductible temporary difference; unused tax loss; unused tax credit", "why_it_matters": "Distinguishes the mechanism producing a potential liability or asset." }, { "name": "Carrying amount and tax base", "kind": "measurement", "unit_or_values": "Amounts in a specified currency at a specified date", "why_it_matters": "Provides the comparison needed to identify and quantify temporary differences." }, { "name": "Underlying difference or carryforward", "kind": "measurement", "unit_or_values": "Currency amount, with tax credits separately identified from deductible tax-base amounts", "why_it_matters": "Prevents treating every deferred tax input as an amount to multiply by a tax rate." }, { "name": "Recognition status", "kind": "state", "unit_or_values": "Recognised; partly recognised; unrecognised; exception applies; assessment unresolved", "why_it_matters": "Separates a potential tax consequence from the amount reportable under the framework." }, { "name": "Applicable tax rate", "kind": "measurement", "unit_or_values": "Percentage or rate schedule, linked to legal status and expected reversal period", "why_it_matters": "Supports measurement while preserving the basis for the selected rate." }, { "name": "Expected reversal or utilisation", "kind": "category", "unit_or_values": "Period or time range; recovery or settlement method; expiry and utilisation restrictions", "why_it_matters": "Connects future tax consequences to rates, available profits and statutory limits." }, { "name": "Recoverability support", "kind": "relation", "unit_or_values": "Evidence linking deductible amounts or credits to eligible taxable profit sources", "why_it_matters": "Makes recognition of deferred tax assets reviewable." }, { "name": "Deferred tax balance", "kind": "measurement", "unit_or_values": "Currency amount, distinguishing potential amount, recognised amount and any valuation allowance", "why_it_matters": "Preserves differences between framework-specific recognition mechanisms." }, { "name": "Accounting destination", "kind": "category", "unit_or_values": "Profit or loss; other comprehensive income; equity; acquisition accounting; other framework-specific treatment", "why_it_matters": "Prevents assigning every deferred tax movement to income-tax expense." } ], "affordances": [ "Identify candidate deferred tax positions from carrying amounts, tax bases and carryforwards.", "Classify future tax consequences and flag potential recognition exceptions.", "Estimate balances under documented rate, timing and recovery assumptions.", "Assess deferred tax asset support using eligible profit sources and utilisation restrictions.", "Reconcile balance movements to their originating transactions and accounting destinations.", "Flag missing evidence, reassessment triggers and presentation decisions requiring review." ], "agent_conduct": { "may": [ "Calculate and present deferred tax balances under the applicable accounting standard, with workings.", "Explain the difference between accounting and tax bases to users of financial statements." ], "must_not": [ "Recognise deferred tax assets without evidence that future taxable profits will be available.", "Manipulate deferred tax estimates to smooth or inflate reported profits.", "Present deferred tax figures as tax advice for a person or company.", "Mix up figures under different accounting frameworks without saying so." ], "requires_human": [ "Signing off financial statements or audit opinions.", "Judgements on the recoverability of tax losses." ] }, "ethics": { "considerations": [ "Misstated tax balances mislead investors, lenders and employees.", "Accounting estimates are a common route for earnings manipulation." ], "affected_parties": [ "Investors and lenders", "Employees and pension members", "Tax authorities" ] }, "owners": { "steward": "The reporting entity's directors answer for the figures; auditors check them.", "master_systems": [] }, "failure_modes_and_hazards": [ "Overstated deferred tax assets can lead to sudden write-downs.", "Complex calculations are error-prone and hard to audit." ], "standards_and_regulation": [ "IAS 12 Income Taxes, International Accounting Standards Board.", "ASC 740 Income Taxes, Financial Accounting Standards Board." ], "what_it_is_for": [ "Deferred tax is encountered in financial reporting when accounting values and tax bases produce future income-tax consequences.", "It is used to recognise qualifying future tax benefits and obligations and explain differences between accounting profit and income-tax expense." ], "facets_not_applicable": { "recognition": "Deferred tax is an accounting construct identified from records and calculations rather than visual appearance." } }, "sources": [ { "id": "wikidata", "title": "Wikidata item Q1032875: deferred tax", "url": "https://www.wikidata.org/wiki/Q1032875", "url_status": "live", "what_it_supports": "identity and sense of the item", "checked_by": "wikidata-api" }, { "id": "wikipedia-en", "title": "Wikipedia: Deferred tax", "url": "https://en.wikipedia.org/wiki/Deferred_tax", "url_status": "live", "what_it_supports": "general description of the item", "checked_by": "wikidata-api sitelink" } ], "structure": { "bundles": [ { "id": "tax-consequence-identification", "name": "Tax consequence identification", "description": "Establishes whether an item creates a deferred income-tax consequence and identifies its origin.", "rationale": "Deferred tax is easily confused with current tax, payment deferrals and permanent book-tax differences.", "layers": [ { "id": "accounting-and-tax-bases", "name": "Accounting and tax bases", "description": "Connects the financial-reporting position to its treatment for income-tax purposes.", "findings": [ { "id": "temporary-difference-test", "name": "Temporary difference test", "description": "Record the carrying amount, tax base and future recovery or settlement consequences before classifying a difference.", "questions": [ { "text": "What carrying amount and tax base apply to this item at the reporting date, and what supports each amount?", "kind": "measurement", "id": "temporary-difference-test-q01" }, { "text": "Why does recovery or settlement create a future taxable or deductible amount rather than a permanent difference?", "kind": "boundary", "id": "temporary-difference-test-q02" } ] } ] }, { "id": "carryforward-origins", "name": "Carryforward origins", "description": "Identifies potential deferred tax assets that originate in unused losses or credits.", "findings": [ { "id": "loss-and-credit-entitlements", "name": "Loss and credit entitlements", "description": "Distinguish deductible loss carryforwards from tax credits and establish who can use them.", "questions": [ { "text": "Is the entitlement an unused tax loss, an unused tax credit or a current tax refund claim?", "kind": "definition", "id": "loss-and-credit-entitlements-q01" }, { "text": "Which filings, assessments or other records establish its amount, owner and expiry?", "kind": "provenance", "id": "loss-and-credit-entitlements-q02" } ] } ] } ] }, { "id": "recognition-and-framework", "name": "Recognition and framework", "description": "Determines how identified tax consequences enter the financial statements.", "rationale": "A potential deferred tax consequence and a recognised balance are different states governed by specific accounting requirements.", "layers": [ { "id": "governing-accounting-basis", "name": "Governing accounting basis", "description": "Locates the position within the relevant reporting framework and entity context.", "findings": [ { "id": "applicable-recognition-rule", "name": "Applicable recognition rule", "description": "Attach recognition decisions to the applicable framework rather than assuming one universal treatment.", "questions": [ { "text": "Which reporting framework, version and reporting-entity boundary govern this assessment?", "kind": "provenance", "id": "applicable-recognition-rule-q01" }, { "text": "Which recognition rule applies to this type of temporary difference, loss or credit?", "kind": "definition", "id": "applicable-recognition-rule-q02" } ] } ] }, { "id": "exceptions-and-recognition-status", "name": "Exceptions and recognition status", "description": "Records whether ordinary recognition is modified by a specific exception or restriction.", "findings": [ { "id": "exception-assessment", "name": "Exception assessment", "description": "Evaluate framework-specific exceptions, including those potentially relevant to initial recognition, goodwill or investments.", "questions": [ { "text": "Does a recognition exception apply, and which transaction facts satisfy its conditions?", "kind": "boundary", "id": "exception-assessment-q01" }, { "text": "What amount should be recognised or left unrecognised, and what change would require reassessment?", "kind": "action", "id": "exception-assessment-q02" } ] } ] } ] }, { "id": "reversal-and-measurement", "name": "Reversal and measurement", "description": "Measures the future tax consequence using supported assumptions about reversal and applicable taxation.", "rationale": "A book-tax difference alone does not determine the reported deferred tax amount.", "layers": [ { "id": "recovery-and-settlement", "name": "Recovery and settlement", "description": "Describes how and when the underlying difference is expected to reverse.", "findings": [ { "id": "reversal-profile", "name": "Reversal profile", "description": "Link expected use, sale or settlement to the timing and character of future taxable or deductible amounts.", "questions": [ { "text": "How is the asset expected to be recovered or the liability settled, and does that method change its tax consequences?", "kind": "measurement", "id": "reversal-profile-q01" }, { "text": "What supports the reversal periods and their classification into relevant tax categories?", "kind": "provenance", "id": "reversal-profile-q02" } ] } ] }, { "id": "rates-and-calculation", "name": "Rates and calculation", "description": "Connects the reversal profile to the rate and calculation required by the reporting framework.", "findings": [ { "id": "supported-measurement", "name": "Supported measurement", "description": "Record rate selection, legal status and calculation conventions separately from the underlying tax-base amounts.", "questions": [ { "text": "Which rate or rate schedule applies to each expected reversal, and does its legal status meet the reporting framework's requirements?", "kind": "measurement", "id": "supported-measurement-q01" }, { "text": "How are credits, currency translation and any framework restrictions on discounting reflected in the calculation?", "kind": "measurement", "id": "supported-measurement-q02" } ] } ] } ] }, { "id": "asset-recoverability", "name": "Asset recoverability", "description": "Evaluates whether potential deferred tax benefits can support an asset under the applicable recognition approach.", "rationale": "Deductible amounts can exist without sufficient eligible taxable profits to realise their benefits.", "layers": [ { "id": "eligible-profit-sources", "name": "Eligible profit sources", "description": "Matches deductible amounts and credits to usable sources of taxable profit.", "findings": [ { "id": "utilisation-matching", "name": "Utilisation matching", "description": "Assess availability within the appropriate taxpayer, jurisdiction, income category and utilisation period.", "questions": [ { "text": "Which reversing taxable differences, future taxable profits or other permitted sources support utilisation?", "kind": "measurement", "id": "utilisation-matching-q01" }, { "text": "Do expiry dates, annual caps, ownership changes or restrictions on income categories prevent that utilisation?", "kind": "boundary", "id": "utilisation-matching-q02" } ] } ] }, { "id": "evidence-and-reassessment", "name": "Evidence and reassessment", "description": "Weighs supporting and contradictory evidence for the recognised deferred tax asset.", "findings": [ { "id": "recoverability-conclusion", "name": "Recoverability conclusion", "description": "Make the recognition conclusion traceable to evidence and the framework's assessment threshold.", "questions": [ { "text": "What historical results, forecasts and feasible tax-planning assumptions support or contradict recovery without double-counting taxable profits?", "kind": "provenance", "id": "recoverability-conclusion-q01" }, { "text": "Under the applicable threshold, what asset or valuation allowance is required, and which new evidence would change that conclusion?", "kind": "action", "id": "recoverability-conclusion-q02" } ] } ] } ] }, { "id": "reporting-and-movements", "name": "Reporting and movements", "description": "Explains changes in deferred tax and how balances and movements appear in financial reporting.", "rationale": "Correct measurement must be accompanied by appropriate allocation, reconciliation and presentation.", "layers": [ { "id": "movement-attribution", "name": "Movement attribution", "description": "Tracks the causes of changes between opening and closing balances.", "findings": [ { "id": "balance-reconciliation", "name": "Balance reconciliation", "description": "Separate origination, reversal, rate changes, recognition changes and transaction-related movements.", "questions": [ { "text": "Which movements reconcile opening and closing balances, including acquisitions, disposals and currency effects where applicable?", "kind": "measurement", "id": "balance-reconciliation-q01" }, { "text": "Where must each movement be recorded given its origin and the framework's allocation requirements?", "kind": "action", "id": "balance-reconciliation-q02" } ] } ] }, { "id": "presentation-and-disclosure", "name": "Presentation and disclosure", "description": "Determines permissible aggregation and the explanations needed to interpret reported positions.", "findings": [ { "id": "netting-and-explanation", "name": "Netting and explanation", "description": "Preserve gross positions while assessing offsetting criteria and relevant disclosure obligations.", "questions": [ { "text": "Which asset and liability balances meet the framework's offsetting conditions, considering taxing authority, taxpayer and relevant legal rights?", "kind": "boundary", "id": "netting-and-explanation-q01" }, { "text": "Which recognised balances, unrecognised benefits, expiries and significant judgements require disclosure?", "kind": "action", "id": "netting-and-explanation-q02" } ] } ] } ] }, { "id": "evidence-and-external-alignment", "name": "Evidence and external alignment", "description": "What the world already says about this thing, gathered so the model can be checked against it.", "rationale": "A model that cannot be lined up against existing standards, identifiers and practice cannot be adopted by anyone who already uses them.", "layers": [ { "id": "reported-evidence", "name": "Reported evidence", "description": "Findings from the breadth pass, kept separate from the structural claims.", "findings": [ { "id": "evidence-confidence-notes", "name": "Check these first", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "The intended sense is inferred to be financial-reporting accounting rather than a legal arrangement postponing tax payment.", "Recognition exceptions and detailed treatments differ between IFRS and US GAAP; a researcher should establish the applicable framework and reporting period first.", "This is a recall-based description; current standard amendments and jurisdiction-specific tax rules have not been checked." ], "questions": [ { "id": "evidence-confidence-notes-q01", "text": "Which of these check these first hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-kinds", "name": "Kinds and varieties", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "Deferred tax liabilities for taxable temporary differences", "Deferred tax assets for deductible temporary differences", "Deferred tax assets for unused tax losses", "Deferred tax assets for unused tax credits" ], "questions": [ { "id": "evidence-kinds-q01", "text": "Which of these kinds and varieties hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-standards-and-regulation", "name": "Standards and regulation", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "IAS 12 Income Taxes - International Accounting Standards Board", "ASC Topic 740 Income Taxes - Financial Accounting Standards Board" ], "questions": [ { "id": "evidence-standards-and-regulation-q01", "text": "Which of these standards and regulation hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-real-world-use", "name": "Real-world use", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "Accounting for differences between tax depreciation and financial-reporting depreciation", "Recognising future deductions for provisions or expenses deductible in a later tax period", "Accounting for recoverable benefits of tax-loss and tax-credit carryforwards", "Recognising tax consequences of asset and liability adjustments in business combinations", "Explaining the deferred component of income-tax expense or benefit in financial statements" ], "questions": [ { "id": "evidence-real-world-use-q01", "text": "Which of these real-world use hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-measurements", "name": "Typical measurements", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ { "quantity": "Temporary difference", "typical_range": "No universal range; depends on the carrying amount and tax base of the relevant asset or liability", "unit": "currency" }, { "quantity": "Recognised deferred tax asset or liability", "typical_range": "No universal range; depends on temporary differences, applicable tax rates, recognition exceptions and recoverability", "unit": "reporting currency" } ], "questions": [ { "id": "evidence-measurements-q01", "text": "Which of these typical measurements hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-failure-modes-and-hazards", "name": "Failure modes and hazards", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "Overstating deferred tax assets by relying on unsupported forecasts of future taxable profit", "Treating permanent differences as temporary differences and incorrectly recognising deferred tax", "Using incorrect tax bases, tax rates or assumptions about how assets will be recovered", "Ignoring restrictions or expiry dates affecting tax losses and credits", "Incorrectly offsetting deferred tax assets and liabilities across entities or tax jurisdictions" ], "questions": [ { "id": "evidence-failure-modes-and-hazards-q01", "text": "Which of these failure modes and hazards hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-regional-variation", "name": "Regional variation", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ "IFRS assesses whether sufficient future taxable profit is probable when recognising deferred tax assets; US GAAP uses a valuation allowance to reduce recognised assets when realisation is not more likely than not.", "IFRS uses enacted or substantively enacted tax rates; US GAAP uses enacted rates.", "Jurisdiction-specific tax laws determine tax bases, rates, carryforward restrictions and available deductions, so identical accounting transactions can produce different deferred tax balances." ], "questions": [ { "id": "evidence-regional-variation-q01", "text": "Which of these regional variation hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] }, { "id": "evidence-neighbours", "name": "Neighbouring kinds and how to tell them apart", "description": "Recalled without web access and unsourced; every item is a lead to verify.", "evidence": [ { "name": "Current tax", "difference": "Current tax concerns tax payable or recoverable on taxable profit or loss for current and prior periods; deferred tax concerns recognised future tax consequences." }, { "name": "Tax deferral", "difference": "Tax deferral postpones taxation or payment under tax law; deferred tax is an accounting consequence and does not itself grant a payment extension." }, { "name": "Temporary difference", "difference": "A temporary difference is a difference between carrying amount and tax base; deferred tax is the tax consequence recognised from that difference, subject to exceptions." }, { "name": "Permanent difference", "difference": "A permanent difference does not reverse into a future taxable or deductible amount and therefore does not itself generate deferred tax." }, { "name": "Income-tax expense", "difference": "Income-tax expense can include both current and deferred components; deferred tax movements may also be recognised outside profit or loss." } ], "questions": [ { "id": "evidence-neighbours-q01", "text": "Which of these neighbouring kinds and how to tell them apart hold for the sense of deferred tax this model covers, and on what evidence?", "kind": "provenance" } ] } ] } ] } ] }, "openQuestions": [ "Which reporting frameworks should the model explicitly support, and how should their recognition and valuation-allowance approaches be represented without treating them as interchangeable?", "Which jurisdiction-specific rules determine tax bases, carryforward eligibility, utilisation limits and applicable rates for the intended instances?", "How should the model represent special regimes, including minimum-tax rules, where framework-specific exceptions or disclosures may apply?", "What evidence standard and forecast horizon should support recoverability assessments in the intended reporting context?", "Does the registry already contain a world model covering deferred income tax, and which neighbouring models should supply current-tax and uncertain-tax-position inputs?" ], "statistics": { "bundles": 6, "layers": 11, "findings": 18, "questions": 28 } }