On February 15 in 2005, the Ministry of Finance promulgated 39 items Accounting Standards for Business Enterprises, and will lead off to carry out in the listed company on January 1 in 2007. This article takes Accounting Standard for Business Enterprises No. 18th - Income Tax as an example, comparative analyzed the main variety of Chinese New and Old Income Tax Accounting on such as basis conception on which the Accounting Standards constitute, the classification of income tax accounting difference, income tax accounting method, filling and disclosure of the financial reports. Then the article analyzed the reason of income tax accounting difference, at last, the author appraises the comparative advantage of the New Accounting Standards for Business Enterprises summarily.