Income Tax Payable: debit or credit?
Income Tax Payable increases on the credit side and decreases on the debit side: its normal balance is a credit.
Liabilities are amounts the business owes. They increase with a credit.
Name in each convention
Account names and codes follow each convention; an account that does not exist in a convention is not offered there.
| Convention | Account |
|---|---|
| United States (US textbooks) | Income Tax Payable |
| Spain (PGC 2007) | 4752 Hacienda Pública, acreedora por impuesto sobre sociedades |
| France (PCG 2025) | 444 État - Impôts sur les bénéfices |
| Germany (generic accounts) | Steuerrückstellungen |