What are deferred tax assets and liabilities?
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Studied at the University of Zurich, Lives in Zurich, Switzerland.
Deferred tax assets are reductions in future taxes payable, because the company has already paid the taxes on book income to be recognized in the future (like a prepaid tax). Book basis - tax basis of asset or liability = cumulative temporary difference (cumulative temporary differences x enacted tax rate).
2023-05-09 23:43:51
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Lucas Lee
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Deferred tax assets are reductions in future taxes payable, because the company has already paid the taxes on book income to be recognized in the future (like a prepaid tax). Book basis - tax basis of asset or liability = cumulative temporary difference (cumulative temporary differences x enacted tax rate).
