permanent difference

Show Summary Details

Quick Reference

A difference between profits or losses computed for tax purposes and profits presented in the financial statements. For example, UK entertaining expenditure will be shown as an expense in the financial statements but will not be allowed as a deduction in deriving the profit or loss for tax purposes.

Subjects: Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.