Temporary Differences definition

Temporary Differences attributable to any entity shall mean (a) any single item of income or deduction in a CI Consolidated Return in respect of any tax period that should reverse in one or more subsequent tax periods assuming proper tax treatment and no change in law or in the tax accounting policies of such entity (each an "Originating Temporary Difference") or (b) the partial or complete reversal of an Originating Temporary Difference.

Examples of Temporary Differences in a sentence

• Temporary Differences are items for which the law requires companies to recognize an item for tax purposes on a basis different to when it recorded the expense for accounting purposes.

• Taxable Income before Current Deductible Temporary Differences is an estimate of from prior years.

• FPLP Intangible Assets – Temporary Differences Under the current Canadian Income Tax Act, "eligible capital expenditures" are deductible for tax purposes to the extent of 75% of the cost incurred, and proceeds are ultimately taxable only to the extent of 75% of the amount received.

• DEFERRED TAX ASSETS30 Sept 2020 {Un-audited)At 012J0a20nuarypRreocfoitgannisdeldosInsaccountRecgootnhiesred ln comIpnrceohmeensiveAt 30 June 2020Deductible Temporary Differences on• Losses on sale of listed equity securities carried forward- Post retirement employee benefits- Deficit on revaluation of investments------···---�-----·-···--·-- (Rupees In '000) --..

• Future Reversals of Existing Taxable Temporary Differences The Company does not have net taxable temporary differences that are expected to reverse and result in taxable income in the future.

• The staff recommended that FASB Technical Bulletin No. 01-1, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets, be rescinded and that EITF Topics No. D-33, “Timing of Recognition of Tax Benefits for Pre- reorganization Temporary Differences and Carryforwards,” and No. D-67, “Isolation of Assets Transferred by Financial Institutions under FASB Statement No. 125,” be nullified.

• Temporary Differences Under CAMT—DTAs Consider the following example: Example 11A—Due to a temporary book-tax difference, an applicable U.S. corporation, Parent, has $0 of AFSI and $100 of taxable income from its foreign branch in Country Y, and no other income, in Year 1.

• At-the-money options would represent the purchase of assets with a tax basis of zero subject to accounting prescribed by EITF Issue No. 98-11, “Accounting for Acquired Temporary Differences in Certain Purchase Transactions That Are Not Accounted for as Business Combinations.” This method also would distinguish between tax deductions based on changes in the stock price subsequent to the measurement date and tax deductions based on other conventions.

• Taxable Income before Current Deductible Temporary Differences is an estimate of taxable income before adjusting deductible temporary differences as of March 31, 2022.

• Bank's pre-tax profit of TL 35,682 (1 January-31 December 2020: 10,348 TL), 8,851 TL current tax provision (1 January-31 December 2020: 2,571 TL) and 334 TL arising from (from the occurrence) of Taxable Temporary Differences (January 1 - 31 December 2020:(41) TL) set aside for deferred tax provision.