Temporary Differences definition

Temporary Differences attributable to any entity shall mean (a) any single item of income or deduction in a CPC Return or any Foreign Distributing Entity 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.
Sample 1Sample 2

Examples of Temporary Differences in a sentence

  • The full amount is to be deducted net of any associated deferred tax liability which would be extinguished if the intangible assets become impaired and/or no longer recognized underthe applicable accounting rules.1769-70Deferred Tax Assets (Excluding Temporary Differences Only), Net of Related Deferred Tax LiabilitiesDeferred Tax Assets (DTAs) that rely on future profitability of the bank to be realized are to be deducted from Tier 1 Common Equity.

  • 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.

  • The firms acknowledged that the guidance included in paragraph 740-10-25-54 was originally issued as EITF Issue No. 98- 11, “Accounting for Acquired Temporary Differences in Certain Purchase Transactions That Are Not Accounted for as Business Combinations,” and focused on transactions between a taxpayer and a government, but they noted that before the heading was added, entities applied paragraph 740-10-25-54 to all transactions that resulted in a step up in the tax basis of goodwill.

  • Amend paragraphs 740-10-55-156 and 740-10-55-158, with a link to transition paragraph 842-10-65-1, as follows: Implementation Guidance and Illustrations > Illustrations > > Example 20: Interaction of Loss Carryforwards and Temporary Differences 740-10-55-156 This Example illustrates the guidance in paragraph 740-10-55-37 for the interaction of loss carryforwards and temporary differences that will result in net deductible amounts in future years.

  • We also recorded a deferred credit of approximately $122 million in accordance with EITF Issue 98-11, “Accounting for Acquired Temporary Differences in Certain Purchase Transactions That Are Not Accounted for as Business Combinations.” This deferred credit will reduce income tax expense when the deferred tax asset is realized.

  • TAXATION Income Tax Expense9,386,7516,003,342 1,248,615-Under provision in respect of previous years371,76596,505 --Tax effect on Inter Co. Dividends451,700422,600 --Origination and Reversal of Temporary Differences (Note 29)(24,334,583)(15,206,869) 1,876,831(6,867,898) (14,124,367)(8,684,422) 3,125,446(6,867,898) 12.1 CURRENT TAX12.1.1 CompanyIncome tax has been computed in accordance with the provisions of the Inland Revenue Act No 10 of 2006 and amendments thereto.

  • Most candidates were able to identify the correct FTCO formula as a starting point for the unknown tax variable, but few candidates were able to work backwards and identify the underlying pieces of the FTCO (DFTP, Temporary Differences, etc).

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

  • 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.

  • Below is a computation of deferred tax for the year ended 31 Dec 2015:CARRYING AMOUNTTAX BASE TEMPORARYDIFFERENCEDEFERRED TAX 25.75%Marks01-JAN-15 - - - -31-DEC-15 630,300 525,000 (105,300) (27,115) 4Movement in Temporary Differences (105,300) (27,115)Therefore, recognise a deferred tax asset of $27,115.

Related to Temporary Differences

  • Temporary Disconnection means an ICP is De-energised but there is no change to the status of the ICP in the Registry;

  • Temporary Position means a non-permanent position which may be either full time or less than a full negotiated work week, used to perform the following work:

  • Temporary Vacancy a vacancy in a position caused by the regularly assigned employee being absent from duty or temporarily assigned to other duties.

  • Temporary post means a post other than a permanent post.

  • Temporary disability means wage loss replacement for the primary job;

  • Temporary service means an electrical service granted temporarily for such purposes as construction, real estate sales, trailers, et cetera;

  • Temporary Work means all temporary works of every kind required in or about the execution, completion and maintenance of the works.

  • Temporary domicile means the principal place of abode within Utah of a person who does not have a present intention to continue residency within Utah permanently or indefinitely.

  • Temporary job site means any location where industrial radiography, wireline service, well- logging, portable gauge or x-ray fluorescence use is performed and where licensed material may be stored other than those locations of use authorized on the license.

  • Temporary worker means a person who is furnished to you to substitute for a permanent "employee" on leave or to meet seasonal or short-term workload conditions.

  • Temporary use means a use or structure on improved or unimproved real estate which is of impermanent nature, and is used for less than ninety days in a calendar year.

  • temporary building means a Building designed or constructed, erected or placed on land and which is demolished or removed from the lands within twelve months of Building Permit issuance;

  • Temporary Works means all temporary works of every kind required in or about the execution, completion or maintenance of works.

  • Temporary Total Disablement means disablement which entirely prevents the Insured Person from attending to their business or occupation.

  • Temporary Work Agency means as defined in Regulation 4 of the AWR being a person engaged in the economic activity, public or private, whether or not operating for profit, and whether or not carrying on such activity in conjunction with others, of:

  • Temporary Cash Investments means any of the following:

  • Temporary Structure means any structure that is apparently temporary in nature;

  • Temporary means employment of an intermittent nature; for a limited, specified period; and undertaken during unpaid Maternity Leave or extended unpaid Maternity Leave.

  • Temporary Cash Investment means any of the following:

  • Temporary Global Note means a global note in the form or substantially in the form set out in Part 1 of Schedule 6 together with the copy of the applicable Final Terms attached to it with such modifications (if any) as may be agreed between the Issuer, the Agent and the relevant Dealer, comprising some or all of the Notes of the same Series issued by the Issuer under the Programme Agreement or any other agreement between the Issuer and the relevant Dealer; Tranche means Notes which are identical in all respects (including as to listing); and

  • Temporary beer event permit means a permit issued in accordance with Chapter 9, Part 4, Temporary Beer Event Permit.

  • Temporary housing means any tent, trailer, motor home, or other structure used for human shelter which is designed to be transportable and which is not attached to the ground, to another structure, or to any utilities system on the same premises for more than thirty (30) days.

  • Regulation S Temporary Global Note is exchangeable in whole or in part for one or more Global Notes only (i) on or after the termination of the 40-day restricted period (as defined in Regulation S) and (ii) upon presentation of certificates (accompanied by an Opinion of Counsel, if applicable) required by Article 2 of the Indenture. Upon exchange of this Regulation S Temporary Global Note for one or more Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note.

  • Temporary total disability means disability that results in the inability of an employee to earn wages as a result of a compensable injury for which disability benefits may not exceed a cumulative total of one hundred four weeks or the date the employee reaches maximum medical improvement or maximum medical recovery, whichever occurs first.

  • Temporary sign means a sign not permanently fixed and not intended to remain fixed in one position;

  • temporary sales office means a building, structure, facility or trailer on the lotused for the purpose of the sale of dwelling units to be erected on the lot.