Deferred tax asset

{
  "id": "MLC-T-INS-001109",
  "term": "Deferred tax asset",
  "field": "Insurance and risk management",
  "definition": "An asset on a company's balance sheet that arises when taxes paid or payable in the current period are higher than the tax expense recognized in the financial statements. This difference creates a future tax benefit, often due to temporary differences between accounting and tax rules. Common causes include net operating loss carryforwards or accelerated depreciation for tax purposes.",
  "url": "https://mlchart.com/terminology/insurance/deferred-tax-asset/"
}