Deferred taxes and accounting of deferred taxes according to IFRS-12 Income Taxes Standards

Implementation differences ocur between current tax legislation in our country and accounting standards during the implementation of international accounting standards in our countryCompanies calculate their taxes in compliance with their profits in reference to the applicable tax laws of their countries. However, the profit calculated in reference to the tax laws differs from the profit according to accounting standards as mentioned above. Deferred tax occurs if these differences are temporary.İn this study, calculation of the differences between financial profit and accounting profit and financial statements of differences are stated. This study is intended to support the implementation of the income tax standard by companies and to clarify the puzzling aspects of defferred tax. Key Words 1. TMS(IFRS)-12 2. Deferred Tax 3. Deferred Tax Assets 4. Deferred Tax Liabilities 5. Temporary Difference