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Fa - deffered tax liabilities
1. Deferred Tax Liabilities Presented By: JOEL M PAIS MBA - 2011Aloysius Institute of Management and Information Technology (AIMIT)
2. Definition A tax liability that a company owes and does not pay at that current point, although, it will be responsible for paying it at some point in the future. This is often caused by a difference in a company's balance sheet, due to the differences between accounting practices and tax regulations. Occasionally, a company will have a difference in their taxable income and income before tax due to these differences, resulting in a Deferred tax liability.
3. Explanation Deferred taxย liabilityย is responsibility for taxes that are owed, but not yet paid. There are certain circumstances in which companies or taxpayers may incurย tax liabilityย but not pay the taxes right away. They record this as a liability on their accounts so that they have a more complete picture of their finances. High deferred tax liability can indicate that a person or company is using unusual accounting practices and can be a cause for concern.