how much tax is due the amount of tax a person or company has to pay
Current liabilities are considered as liabilities of the business that are to be settled in cash within the fiscal year. Current liabilities include accounts payable for goods, services or supplies, short-term loans, long-term loans with maturity within one year, dividends and interest payable, or accrued liabilities such as accrued taxes.
By Patrick Buchmann, Udo Jung
occurring before the buyer acquired the company. This includes any reasonable costs and expenses which were properly incurred and payable by the company or the buyer in connection with any reasonable action to avoid or settle a tax claim or liability. In any tax deed, the sellers will seek to limit their liability in such an undertaking to a maximum agreed amount
In the UK a new debt cap takes effect for accounting periods beginning on or after 1 January 2010, running in parallel with the arm's length principle. The debt cap applies to limit the tax deduction for finance expense payable by UK group companies by reference to the consolidated worldwide gross
By Martin O’Donovan
Definitions of ’tax payable’ and meaning of ’tax payable’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’tax payable’ and other financial terms with our online QFINANCE Financial Dictionary.