Provision for income taxes

(redirected from Provisions for Income Taxes)

Provision for income taxes

An amount on the P & I statement that estimates a company's total income tax liability for the year.

Provision for Income Taxes

In a financial statement or personal budget, an estimate for one's total income tax liability for a given year. This is especially important when the government or an employer does not automatically deduct estimated tax payments from paychecks or other revenue. Generally speaking, one must set the provision for income taxes aside and pay it quarterly or annually.

References in periodicals archive ?

The provisions for income taxes in both periods are related to the pre-tax income of the Company's Canadian operations.

BRAMPTON BRICK REPORTS RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2019

The decrease in ROA and ROE was mainly attributable to the bank being required to record provisions for income taxes effective 2016.

Pacific Alliance Bank reports reduced net income for nine months to September 2016

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