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English definition of “deferred tax”

deferred tax

noun [C or U]
 
 
( also deferred taxation)
TAX money that a company owes in tax on income already earned, but that it will not pay until a future date: The poor performance was blamed on a deferred tax expense of $5.8 million and an abnormal loss of $7.9 million. Provision must be made in the accounts for deferred taxation.
(Definition of deferred tax from the Cambridge Business English Dictionary © Cambridge University Press)
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