This is the value, as at the relevant date, of any surplus/deficit of deferred tax assets (DTA) over deferred tax liabilities (DTL). DTA and DTL are determined in accordance with relevant accounting standards; the netting of these items is in accordance with relevant prudential standards. 

The deferred tax assets and deferred tax liabilities include any tax effect arising from the adjustment of policy liabilities but excludes the tax effects arising from the asset and insurance stress scenarios considered.  

Where the deferred tax liabilities exceeds the deferred tax assets, this value should be reported as zero.  The netting of deferred tax assets and deferred tax liabilities must only be applied where the life company has a legally enforceable right to set-off current tax assets against current tax liabilities.