Corporate Compliance with IAS Regarding Income Tax

Here briefly prescribe the accounting treatment for income taxes. Major focus on Corporate Compliance with IAS Regarding Income Tax. Income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax. Various systems define income differently and often allow notional reductions of income.