ACCOUNTING FOR INCOME TAX HALFWAY TO IFRS

Abstract: determining the taxable base for income tax in national accounting systems is increasingly influenced by IFRS. In Russia, this trend was clearly manifested with the adoption in 2002 of Regulations on accounting PBU 18/02, establishing a link between the definition of profit in accounting and tax accounting.

The article provides a brief overview of the issues of harmonization of national accounting standards for income tax with the requirements of IFRS, the main aspects of calculating the tax base for income tax in the light of the latest version of PBU18/02, which entered into force on January 1, 2020, and the impact of these processes on the formation of the report on the financial result of the organization. In almost all countries with market economies tax on profit of organizations is one of the main components of the fiscal system. Depending on the specifics of the national tax system and the structure of the economy, the meaning and function of this tax may differ greatly.

Keywords: permanent differences, temporary differences, permanent tax income, permanent tax expense, deferred tax asset, deferred tax liability, current income tax, PBU18/02

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