CFA笔记整理IncomeTaxes

1、实用文档In come TaxesTax terminology (税务报表科目)? Taxable in come : In come subject to tax based on the tax retur n.? Taxes payable : The tax liability on the bala nee sheet caused by taxable in come. This is also known as current taxexpense.? In come tax paid : The actual cash flow for in come taxes in cl

2、udi ng payme nts or refunds from other years.? Tax loss carry forward : A curre nt or past loss that can be used to reduce taxable in come (thus, taxes payable) in thefuture. Can result in a deferred tax asset .由于亏损产生，可以抵扣未来利润? Tax base: Net amount of an asset or liability used for tax reporting pur

3、poses.Financial reporting Terminology(财务报表科目 )? Acco un ti ng profit : Pretax finan cial in come based on finan cial acco unting sta ndards. Also known as in come beforetax and earnings before tax? In come tax expe nse : Expe nse recog ni zed in the in come stateme nt that in cludes taxes payable an

4、d cha nges indeferred tax assets and liabilities (DTA and DTL). The in come tax expe nse equati on is:In come tax expe nse=taxes payable-hMDTL- ADTA? Deferred tax liabilities : Bala nee sheet amounts that result from an excess of in come tax expe nse over taxes payablethat are expected to result in

5、future cash outflows.? Deferred tax assets : Bala nee sheet amounts that result from an excess of taxes payable over in come tax expe nsethat are expected to be recovered from future operati ons. Can also result from tax loss carry forwards.? Valuati on allowa nee : Reduct ion of deferred tax assets

6、 based on the likelihood the assets will not be realized.（ 递 延税资产减值）? Carrying value : Net balanee sheet value of an asset or liability.DTL（递延税负债）和 DTA（递延税资产）由于实际上缴给国家税务机构的税金和财务报表上计算得 出的税金不一样产生的。如果交给税务局交的比财务报表上计算的交的多，就产生资产（ DTA） 相反就产生负债（DTL），资产代表了未来会的税收会少交（相当于 receiveble,这部分好处未来才 发生，现在还没收到）负债代表未来的税收

7、会多交。allowanee valuation 是针对 DTA 来说的，如果这部分好处未来有可能会变少，比如现在的DTA 是 100，但是未来有可能这部分好处收不回了，比如这个税收差异（temporary differe nee）的反转时间变长，或者反转可能性降低，就说明这个 100，现在值不了 100 了， 要发生减值了， 就好比 receivable 里的坏账减值一样的， 如果现在确认要发生 allowaneevaluation =20 意思就是要减值 20，现在的 DTA 就减少了，变成 100-20=80Temporary differe nee vs. perma nent diff

8、ere neeTemporary differe nee暂时性差异? Difference will reverse （差异会反转 ）Deferred tax assets由 deductible temporary differe nee 引起未来 taxable in come 变小Taxes payable in come tax expe nse? B/S amounts that result from an excess of tax payable over in come tax expe nse that are expected to be recovered fromfu

9、ture operations 未来会 recoverDeferred tax liabilities由 taxable temporary differe nee 引起，导致未来 taxable in come 变大Taxes payable in come tax expe nse? B/S amounts that result from an excess of in come tax expe nse over taxes payable that are expected to result in future实用文档cash outflows .现在少付的税，未来会多付Perma

10、 nent differe nee 永久性差异Difference will not reverse, thus no deferred tax issues差异不会反转，就不存在递延的概念Permanent differe nee 会引起公司的 effective tax rate 和法定的 statutory tax rate 不相等, effect tax rate= in come tax expense/pretax in comeTwo steps for deferred tax? Step 1 Iden tify DTL and DTA through a B/S approa

11、ch,? Step 2 Calculate deferred tax expe nseB/S approach?Identify Accounting base and Tax base for every asset and liability item on B/S?Calculate the differe nee betwee n two bases? For assets = acco un ti ng base -tax base? For liabilities = ( - acco unting base) -(- tax base )Positive figure x tax

12、 rate = DTL 属于 taxable temporary differeneeNegative figure x tax rate = DTA 属于 deductible temporary differenee正数说明 payable tax 小于 in come tax expe nse, 产生 DTL负数说明 payable tax 大于 in come tax expe nse,产生 DTA 计算结果为累积 DTL/DTAReversal of temporary differe neeTreatme nt of DTLIf un likely to be reversed?

13、Treated as equity 相当于向税务机关融资If to be reversed? Treated as true liabilityIf non-reversal/reversal is un certa in? IgnoredTreatme nt of DTAlf50% probability to be reversed? Valuation allowa nee is createdDTA =DTA-Valuatio n allowa neeComparison of IFRS and U.S.GAAPRecognitionIssueIFRSls, GAAPRev.ihtaMon /DTL Of DTANol appikablelaugible andLBihiDgible assets伍呻in equicj1.as炉甲皿呦阿h pt0lubiTCiMeasurcrtirntsAijeJFRSISTGAAPoffEeteiioJTXa、错怙Deferred Tax asset is recognizedonly tor IM* cflnied icnvsi dDeferred fu aset is necopiized