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What is Deferred Tax Accounting Explained about?

Accounting income and taxable income can differ due to permanent and temporary differences. Permanent differences do not give rise to deferred tax assets/liabilities as they have no future tax consequences. Temporary differences are timing differences between accounting and taxable income that result in deferred tax assets or liabilities. Deferred tax liabilities arise when accounting income is higher than taxable income or when the carrying amount of an asset exceeds its tax base. Deferred tax assets arise

Author

AEHYUN YENVY

Language

EN