1. The sum of the current tax expense or benefit and deferred tax expense or benefit. Current tax expense or benefit 2. Equal to taxable income times the applicable tax rate. Current tax liability 3. The result from the settlement of a liability related to an expense or loss that is deductible for tax purposes subsequent to being recognized in financial income. Future taxable amount 4. Records the deferred tax consequences attributable to taxable temporary differences. Deferred tax liability 5. Differences between the tax basis of an asset or liability and its reported amount in the financial statements that will result in taxable or deductible amounts in future years. Temporary differences 6. Records the deferred tax consequences attributable to deductible temporary differences and carryforwards. Deferred tax asset 7. The result from the recovery of an asset related to a revenue or gain that is taxable subsequent to being recognized in financial income. Permanent differences 8. The net change during the year in an entity's deferred tax liabilities and assets. Deferred tax expense or benefit 9. The amount of taxes paid or payable (or refundable) for the year as determined by applying the enacted tax law to the taxable income or excess of deductions over revenues for that year. Permanent DifferencesTemporary DifferencesDeferred Tax AssetDeferred Tax LiabilityDeferred Tax Expense or BenefitCurrent Tax LiabilityFuture Taxable AmountCurrent Tax Expense or BenefitIncome Tax Expense or BenefitFuture Deductible Amount