When an event occurred after the date of the financial statements but before the issued date, and this event will have a financial impact in the future, the fact should be disclosed in the financial statements in a note.

The tax rate was reduced from 28% to 27% for the year of assessments commencing on or after 1 April 2022. Accordingly, the income tax should not be amended for the year ending 28 February 2022, but this will have an impact on future income and deferred tax.

Conclusion:

Yes, the change in tax rate should be disclosed in a note to the financial statements.