When the carrying amount of an asset is higher than its tax base, it creates a temporary difference that results in a deferred tax liability. This occurs because the company will likely pay higher taxes in the future when the temporary difference reverses. Deferred tax liabilities arise when there is a deficit in taxable income compared to accounting profit, and the company expects to settle this deficit over future operations. This concept is critical in financial statement analysis, particularly when contrasting accounting profit, taxable income, taxes payable, and income tax expense, as well as distinguishing between temporary and permanent differences.