Local Actual After Tax Temporary Differences

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The Local Actual After Tax Temp Diffs page allows you to enter after tax adjustments that are temporary in nature. An example of an After Tax Temporary Difference is a tax credit with a carry-forward amount.

Enter a separate line item for each Local Actual After Tax Temporary Difference:

1.Select the appropriate code-description from the drop-down menu in the first column.
2.Select the tag.
3.Indicate whether the item is classified as current or non-current.
4.The Beginning balance, if any, is automatically pre-populated.
5.Enter the current activity amount in local currency.
6.There are fields for entering deferred only adjustments and balance sheet only adjustments. Enter the appropriate amounts, if applicable.
Note: Refer to the Where to Enter Items in ONESOURCE Tax Provision section for more information on the different types of adjustments (i.e. current activity, deferred only, and balance sheet only).
7.The ending balance, if any, is automatically calculated.
 
8.Click Add New to create the temporary difference.

Note: If a new local after tax temporary difference item is required, contact the Corporate Tax Department.

The impact of individual temporary differences on your tax provision can be viewed on theLocal Interim Provision report and the Local Deferred Balances report.

You can attach files to an individual temporary difference items on this page. If you have supporting documents, click the paper clip icon next to the item.