Abstract
[Autom. eng. transl.] As illustrated in Chapter 2, the criteria for determining taxable income (i.e. income subject to taxation) differ from the criteria used to determine pre-tax income calculated for civil purposes. Knowledge of tax rules therefore appears essential for determining accrued taxes. In fact, the latter may differ, even significantly, from current taxes.
The misalignment between civil result and taxable income may be caused by differences of a permanent nature and differences of a temporary nature.
Permanent differences emerge in the financial statements when some costs and/or revenues charged to the Income Statement, based on the accrual principle, never assume fiscal relevance for the purposes of corporate income tax. Temporary differences emerge when there is a time lag between the economic accrual of the positive or negative income component and the tax liability, a difference which, however, is destined to disappear in future financial years.
The Chapter illustrates the differences of a permanent nature and the differences of a temporary nature which, in fact, give rise to deferred tax assets and deferred tax liabilities.
Translated title of the contribution | [Autom. eng. transl.] Deferred taxation |
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Original language | Italian |
Title of host publication | Il bilancio di esercizio |
Editors | P Russo, E Cantù, A Pettinicchio, M Daniele |
Pages | 503-524 |
Number of pages | 22 |
Volume | 2022 |
Publication status | Published - 2022 |
Keywords
- imposte differite
- Fiscalità