I have a theory question if someone could please help me i have no idea where to start

QUESTION 3

Canadian Products Limited (CPL) is a large public Canadian company. Recently the president issued a public letter to standard-setters and to the Ontario Securities Com¬mission (OSC) complaining about Canadian tax standards:
We at CPL are very concerned that our current operating performance and debt-to¬-equity position are grossly misstated due to the Canadian standards for accounting for income tax. These standards do not reflect the economic reality of our tax position.
Our future income tax balances arise because we are allowed to amortize our capital assets far more rapidly for tax purposes than they actually wear out. Thus, deductible expenses for tax purposes exceed our book expenses. Last year, our tax expense exceeded taxes payable by $17.2 million. When combined with prior amounts, we have a cumulative difference of $190.6 million, and this difference is expected to continue to increase.

We estimate that this year's $17.2 million would not possibly be required to be repaid for at least 12 years--and perhaps never if we continue to expand. I understand that if we followed U.K. rules, using partial allocation, we wouldn't have to expense this amount at all this year. The U.K. approach seems far more realistic.
We are also disturbed that discounting is not allowed for future tax amounts. If we had any other non-interest-bearing, long-term liability on our books, discounting would be considered appropriate. This inconsistency in the way supposedly analogous liabilities are treated highlights the fact that the future income tax liability is, in fact, different.
We urge standard-setters and market regulators to take a second look at the stan¬dards governing accounting for corporate income taxes.

Required:
Evaluate this statement, looking at both sides of each issue raised.