(a) Due to the COVID-19 pandemic, Hyden Ltd, being one of the leaders in the tourism industry, has recognised a $80 million tax loss in the current period. Discuss the accounting treatment for a tax...

(a)   Due to the COVID-19 pandemic, Hyden Ltd, being one of the leaders in the tourism industry, has recognised a $80 million tax loss in the current period. Discuss the accounting treatment for a tax loss and explain the recognition criterions to recognise a tax loss.