What might be the reasons for the tax payable account? Why don't the company pay the tax right away but have to wait for some time and pay it in the future? Deferred tax asset result from an excess of tax payable over income tax expense. Does it mean the company paid tax more than it should have paid? I just got a bit confused of it. How could this siutation happen in real life? Could you explain it to me by giving the example? Thank you very much.
Orignal From: What is the cause for tax payable account?
Post a Comment