Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/26961
Title: The concept of deferred tax according to accounting standard of income taxes (TMS-12) and an application
Other Titles: TMS-12 gelir vergileri standardina gore ertelenmis vergi kavrami ve bir uygulama
Authors: Karakaya, Gencay
Sevim, Cengiz
Keywords: Accounting -- Standards
Accounting -- Turkey
Income tax -- Accounting
Deferred tax -- Turkey
Issue Date: 2016
Publisher: Ahmet Gökgöz
Citation: Karakaya, G., & Sevim, C. (2016). The concept of deferred tax according to accounting standard of income taxes (TMS-12) and an application. Journal of Accounting, Finance and Auditing Studies, 2(3), 255-270.
Abstract: We face various challenges in time from the calculation of the tax charged on profits (only the income of the corporations required by the relevant standard) to the recognition. The main reason of these challenges is the emergence of two different concepts of profit over which the tax is to be calculated because of the incompatibilities between the Turkish Accounting Standards and the Tax Procedure Law. The first of these is the commercial profit calculated according to the principles which the relevant standard/standards has/have determined; the other one is the financial profit calculated according to the policies and principles in the tax law. If the differences between accounting profit and financial profit are temporary, it is reported as deferred taxes in the relevant period of balance sheet. TAS-IAS 12 Income Taxes Standard describes the differences in question. The differences in question emerge as deferred tax assets or deferred tax liabilities. The purpose of this article is to analyse TAS-IAS 12 Income Taxes Standard and is to explain the application of the standard in question in what manner that will be made. Therefore, with the help of an example of an application, TAS-IAS 12 Income Taxes Standard is compared with the current practice in Turkey.
URI: https://www.um.edu.mt/library/oar//handle/123456789/26961
Appears in Collections:Journal of Accounting, Finance and Auditing Studies, Volume 2, Issue 3
Journal of Accounting, Finance and Auditing Studies, Volume 2, Issue 3

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