Management's decision was based on the very attractive benefits introduced by Executive Order 470 and Federal Law 11,941/2009, which include up to 90% reduction in interest payments and 100% reduction in penalties, as well as the possibility of using accrued tax
losses as currency for payment, which in Braskem's case represents an average discount of 70% on the total amount disputed.
In 2004, it accrued tax
debts of Koruna 641 million the national tax office subsequently wrote off 65%.
When a tax bill is processed, PTMS reconciles the accrued tax
estimate with the actual tax amount and automatically makes any necessary adjustments.
Therefore, in computing its accrued tax
, Metro would include only the current year's reported installment income.
A task frequently faced in representing clients before the IRS Collection Division is negotiating an installment agreement, under which monthly payments are made against an accrued tax
liability, free of the threat of levies and seizures.
In return, the state actually reduces its liability by applying the 25% discount to its accrued tax
According to the tax authorities, Arkas Holding's Chairman Lucien Arkas has topped the list of taxpayers with an accrued tax
of TL 2.
4 million reduction of accrued tax
liabilities related to the expiration of certain statutes of limitations on previous tax positions and favorable adjustments received on amended tax returns.
In addition, we had continued expense as we pushed into new international markets with the completion of our Hong Kong and Australian offices, the funding of a profit share plan on behalf of the company employees and an increase in accrued tax
03 per diluted share after tax, from the reversal of an accrued tax
03 per share impact of the reversal of the accrued tax