Accrued Taxes

Accrued Taxes

The taxes assessed on a company, either on its earnings or on the value of its property, but which it has not yet paid. If the company does not pay the accrued taxes in full by the specified date, it may owe interest and penalties. Accrued taxes are listed as a liability on the company's balance sheet.
References in periodicals archive ?
The total amount of accrued taxes and payments of PJSC TATNEFT for the 1st half of 2019 increased by RUB 14.3 billion relating to the 1st half of 2018 mainly due to an increase of the MET amount.
"My client has always cooperated with KRA and is willing to settle the accrued taxes," lawyer Ayieko said.
AB 2503 was written with the intention of being taxpayer friendly and as a mechanism whereby the FTB could efficiently clean up its rolls of dormant companies that accrued taxes while in a non-operational status.
"The good results were also reflected in the investment process, contributing to attracting record investment, creating new jobs, increasing taxes and accrued taxes to the national public budget," said Pavel Filip.
He said the board's executive director Fazul Mohammed acted beyond his mandate by giving further directions to the Kenya Revenue Authority to recover accrued taxes.
The Proposed Regulations define accrued taxes as accrued tax expense recorded on taxable profits or losses, reflecting only operations in the relevant annual accounting period and excluding deferred taxes or provisions for uncertain tax liabilities.
These assets totaling TL 50.4 billion have accrued taxes of TL 1.1 billion.
461(d), which governs the tax year in which a taxpayer can take a deduction for accrued taxes, any change to a state's tax laws that occurs after Dec.
He said accrued taxes and premiums owed to the tax administration would be restructured, noting that the arrangement did not come before the Economy Coordination Council yet.
After a responsible person knows of the unpaid tax liability, any money coming into the corporation, from any source, must be paid to satisfy both current and accrued taxes.
3) the participant does not have any debts for accrued taxes, levies and other obligatory payments to budgets of any level or state extra-budgetary funds for the past calendar year, the amount of which exceeds twenty five percent of the book value of the participant%s assets according to the financial statements for the last completed reporting period.
The judge said the board executive director Fazul Mahamed acted beyond his mandate when he further directed Kenya Revenue Authority to recover accrued taxes.