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CalculationBeginnerVariant — group VG.IAS12.000006Published

Question · Current tax: liability, instalments and loss carry-back

Tavernol makes an accounting profit of 455,000. Tax law (case data) requires 37,000 of non-deductible expenses to be added back and allows 12,000 of exempt income to be deducted. The rate enacted at the reporting date is 25%. Compute taxable profit and current tax.

Accounting profit
455,000
Add-backs
37,000
Deductions
12,000
Enacted tax rate (%)
25 %
Your answer

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