Deferred Income Tax – Current Asset (SF.BS.DeferredIncomeTax_CurrentAsset)

Deferred Income Tax – Current Asset (SF.BS.DeferredIncomeTax_CurrentAsset) refers to the deferred tax assets with a current maturity. This accounting item arises when there is a timing difference between financial reporting and tax preparation practices, a company might have credits or additional tax liabilities from the government. Such credits or additional tax liabilities may be reported on a net basis, but if not, government credits may be reported as an asset and additional liabilities may be reported as a liability. Current portion of such assets are generally reported in the current assets section and classified as Deferred Income Tax – Current Asset (SF.BS.DeferredIncomeTax_CurrentAsset). When a company reports its assets without differentiating between current and non-current, all deferred income tax assets are classified as Deferred Income Tax – Long-Term Asset (SF.BS.DeferredIncomeTax_LTAsset).

Deferred Income Tax – Current Asset (SF.BS.DeferredIncomeTax_CurrentAsset) does not include: