Deferred Tax Liability Accounting

Deferred tax liabilities are shown as long term liabilities on the balance sheet of a business, and represent obligations to pay income tax at some point in the future arising from temporary timing differences.

Last modified January 7th, 2020 by Michael Brown
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Deferred Tax

The balance sheet shows a financial snapshot of the business at a specific point in time, usually at the end of an accounting period.

Last modified January 13th, 2020 by Michael Brown
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Withholding

Withholding tax refers to process of deducting taxation from an a payment to a person, and paying this over to the government on their behalf. Governments use this method of withholding tax in order to minimize the risk of tax evasion and to reduce the costs of collection.

Last modified January 13th, 2020 by Michael Brown
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