Actually a company can have a deferred tax asset or a deferred tax liability. It's an accounting mechanism to 'smooth' out the impact of timing differences, where the tax code starts taxing things in a different way to the accounting standards. Without accounting for deferred tax, these differences would lead to unexpected volatility in your profit & loss account, so a company recognises a deferred tax asset or liability on its balance sheet, then unwinds that against the current tax differences in future years.
If the accounting and tax code differences will benefit you in the future, you can recognise a deferred tax asset; if you'll be worse off in the future, you recognise a deferred tax liability.
In this case, it looks like the company had a deferred tax asset that was no longer going to crystallise a benefit in the future due to the recently changed law - hence they reduce the asset. Cr Deferred tax asset (B/S), Dr Tax charge (P&L). It's not a cash tax or a mistake with their tax calculation for the year.