Examlex
The diaphragm is composed of
Taxable Income
is the amount of income used to calculate how much tax an individual or a company owes to the government, after all deductions and exemptions.
Temporary Difference
A difference between the book value and tax value of an asset or liability that results in taxable or deductible amounts in future years.
Tax Provision
An amount recorded in advance for expected future tax payments due to governmental regulations and business operations.
Interperiod Tax Allocation
The practice of distributing income tax expenses over different accounting periods to match taxes with the revenues they are associated with.
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