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Trends in book-tax income and balance sheet differences.

CollectionsANU Centre for Tax System Integrity (CTSI)
Title: Trends in book-tax income and balance sheet differences.
Author(s): Mills, Lillian
Newberry, Kaye
Trautman, William B
Publisher: Centre for Tax System Integrity (CTSI), Research School of Social Sciences, The Australian National University
Series/Report no.: Centre for Tax System Integrity Workshop: July 2002
Conference paper

We use Compustat and tax return data to describe trends from 1991-1998 in differences between book and tax measures of income and balance sheet amounts. Our primary findings confirm that book-tax income differences are growing throughout the 1990s. Extending prior work, we partition the sample to describe the differences by industry, global character and profitability. Secondly, we compare Compustat financial statement assets and liabilities to the book balance sheet reported on the tax return and find that the tax return amounts exceed the financial statement amounts in the aggregate. We plan to investigate suggested explanations for this excess, including differences in book versus tax consolidation reporting and off-balance sheet activity.


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