Pillar 2 Covered Tax Calculation

Summary:

Hi,

I have below 2 calculations for covered tax. Current tax is 21% and Pillar 2 tax 15%.

In calculation# 1 - deferred tax at 21% is added back to current tax and deferred tax as per 15% is removed to calculate the covered tax.

In calculation# 2 - deferred tax 15% removed from current tax. deferred tax as per 21% not considered in the calculation

Can anyone guide as which one is the correct calculation for covered tax.

Content (please ensure you mask any confidential information):

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):