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Why is it necessary to record deferred taxation?

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Question added by Muhammad Hanif Kasbati , Chief Financial Officer and Company Secretary , Pakistan Textile City Limited
Date Posted: 2016/03/02
Fathi Matbaq
by Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries

1- To recognize the income taxes payable for the current accounting period. 2- To record future tax liabilities as a result of items recognized in the income statement but not the tax return or recognized on the tax return but not the income statement.

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