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What Is Deferred Tax? |
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Answer» A tax liability that a company has to pay but does not pay at that current point and it will be responsible for paying it in future is termed a DEFERRED tax. Deferred tax OCCURS DUE to the DIFFERENCE in a company's balance sheet, due to the differences between accounting practices and tax regulations. A tax liability that a company has to pay but does not pay at that current point and it will be responsible for paying it in future is termed a deferred tax. Deferred tax occurs due to the difference in a company's balance sheet, due to the differences between accounting practices and tax regulations. |
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