J. ID the key provisions of and differences between income tax accounting under IFRS and US GAAP

Question 1

Key diff’s between income tax accting under IFRS and US GAAP

Answer 1

Accting for inc. taxes under US GAAP and IFRS is similiar in most respets. However, there are some differences. Many differences ralate to the different tax laws and regulations of the different countries. Figure 1 is a summary of a few of the more important differences