The Economic Essence of Profit Tax and its Role in the Financial Activities of an Enterprise

This study is devoted to an in-depth examination of the theoretical and methodological foundations of profit tax accounting, as well as its interconnection with the financial accounting system. In the conditions of a modern economy, the profit tax is not only a fiscal tool that forms the state budget, but also a crucial financial lever that determines the investment attractiveness, profitability, and capital movement of enterprises. The article substantiates the current relevance of the Republic of Uzbekistan's transition to International Financial Reporting Standards (IFRS), particularly the application of IFRS (IAS) 12 "Income Taxes". The literature review analyzes ten dissertations defended by Uzbek scientists over the last three years (2023–2025), revealing how the issue is studied from both accounting and financial perspectives. The methodological part of the research utilizes economic and comparative-statistical analysis methods, highlighting the conceptual differences between the US Generally Accepted Accounting Principles (US GAAP), IFRS, and the National Accounting Standards (NAS) of Uzbekistan. Based on the analysis results, existing problems in recognizing temporary differences between financial and tax accounting bases, as well as in evaluating deferred tax assets and liabilities, are identified. Scientifically grounded solutions are proposed to eliminate these issues and harmonize national tax legislation with international standards.