The Permanent Diffs GAAP/STAT page allows you to enter differences between book income computed under US GAAP and Statutory income in your country that are permanent in nature. These differences will not reverse in the future. Examples include permanently disallowed expenses, certain types of goodwill amortization, and tax-exempt interest. In order to view this page, the dataset must be published accordingly.
Enter a separate line item for each Permanent Difference:
| 1. | Select the appropriate code-description from the drop-down menu in first column. |
| 2. | Select the type of the permanent difference item. It will usually be a P&L adjustment. However, if you are entering an item that does not have any impact on the current tax expense (e.g., stock option expense), select E - Equity adjustment. Note: Refer to the Where to Enter Items in ONESOURCE Tax Provision section for more information on the different types of permanent difference items. |
| 3. | Enter the amount of the permanent difference in local currency. |
| 4. | Click Add New to create the permanent difference. |
Note: If a new permanent difference item is required, contact the Corporate Tax Department.
After a permanent difference item is created, you can edit or delete it by clicking the appropriate icon. Click the pencil icon to edit the entry. Select Save Changes after making any changes. You can attach files to individual permanent difference item on this page. If you have supporting documents, click the paper clip icon next to the item.
The impact of individual permanent differences on your tax provision can be viewed on the Tax Provision report and the Effective Rate report.
To view separate pages for GAAP to STAT and STAT to TAX, datasets must be published as “yeprovgs.” For more information, refer to the Administration section.