Models of business tax result statement
Models of business tax result statement

Summary/Abstract: Tax result is calculated for the purpose of income tax settlement. The rules for determining tax income or loss are specified in the regulations of the tax law, which is characterised by certain specificity. It results from the purposes of levying taxes and makes tax result differ from profit and loss in most cases. On the one hand, these differences are a consequence of the scope of revenues and expenses included in both the statements. On the other hand, the differences refer to the moment and manner of recognizing revenues and particularly expenses. The methodology of calculating the result is not unambiguously specified in tax standards. Tax result may be determined independently from profit and loss or by adjusting profit and loss. Both the approaches give rise to consequences affecting work consumption and the evaluation of the correctness of settlements, as well as maintaining a tax policy by an enterprise.

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