Page 3 - PowerPoint Presentation
P. 3
INCOME TAXES
Overview
• Taxation represents an unavoidable expense for
most entities.
• Apart from various income taxes that include all
domestic and foreign taxes, it is also necessary to
account for deferred taxation.
• Deferred tax represents tax that will be paid/saved
in future periods when the carrying amounts of the
assets/liabilities are recovered/settled.
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