What is a Tax Extension?

Deferred tax is the difference between the pre-tax accounting profit and the taxable income due to the time difference, which affects the amount of income tax, and the amount reversed in subsequent periods.

Deferred tax

1. should

1. Current income tax expenses> Current income tax payable: (ie: taxable time difference, deductible time difference before reversal)

Borrow: income tax expenses

Loan: Taxes payable-corporate income tax payable

Deferred tax

2. Current income tax expenses (for current income tax payable: (that is, deductible time differences, taxable time differences before reversal)

Borrow: income tax expenses

Deferred tax

Loan: Taxes payable-corporate income tax payable