Examlex
How does termination of translation take place?
Income Tax Liability
The amount of money an individual or corporation owes to the government based on the taxable earnings for a fiscal period.
Income Tax Expense
Income tax expense is the amount of money a company is required to pay in taxes based on its taxable income for a given period.
Deferred Tax Expense
A financial reporting concept referring to the difference in taxes payable in the future due to temporary differences between the tax and book accounting.
Deferred Tax Liability
A tax obligation that a company owes but can delay paying to a future period, often arising from differences in accounting methods for book and tax purposes.
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