COMPANY TAX Definition

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COMPANY TAX see CORPORATION TAX.

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DEFERRED TAX LIABILITIES have an effect of increasing future years income tax payments, which indicates that they are accrued income taxes and meet definition of liabilities. Whereas deferred tax assets have an effect of decreasing future income tax payments, which indicates that they are prepaid income taxes and meet definition of assets.

EBIT is Earnings Before Interest and Tax. EBIT is an indicator of a companys financial performance calculated as revenue less expenses excluding tax and interest. It is sometimes referred to as operating earnings.

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