A tax asset is a certain amount of tax that an organization must pay to the budget. Taxpayers, when calculating the amount of payment, must be guided by PBU 18/02. Due to the fact that the financial assessment of an enterprise is carried out not only on the basis of tax accounting data, but also on accounting data, temporary differences and tax liabilities are formed.
When accounting, permanent and temporary differences are formed. It depends on this whether the tax asset will be permanent or deferred.
The permanent difference includes those amounts that are involved in the formation of the balance sheet, but do not affect the taxable amount. This can include the payment of interest, the amount of which is not fully taken into account when calculating income tax. Also, permanent differences include those expenses or incomes that only affect the formation of the tax base. For example, a fixed asset has been acquired, the useful life of which is longer in tax accounting than in accounting.
Based on the foregoing, we can conclude that a permanent tax asset is the amount of tax that reduces income tax payable to the budget in the reporting period in which it is formed.
To calculate the amount of the permanent tax asset, you need to multiply the constant difference by the tax rate.
A temporary difference arises when the amount of accounting and tax accounting does not coincide, the recognition of expenses is shifted in time. That is, in accounting, the amount is recognized in the reporting period in which the transaction was performed, and in the tax period, part of the amount is transferred to the next period.
It is due to the temporary difference that the deferred tax asset is formed, that is, the reducing part of the tax is transferred to the next reporting period. To calculate the amount of the deferred tax asset, you need to multiply the temporary difference by the tax rate. As a rule, deferred tax is reflected on account 09.
The amount of the deferred tax asset is reflected in the income statement (form No. 2). To obtain this information, open account 09 and calculate the difference between debit and credit.
