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Journal entryIntermediateVariant — group VG.IAS12.000007Published

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

The IT services subsidiary Neuvary, taxed separately, reports taxable profit of 234,000; the rate enacted at the reporting date is 25%. No instalments were paid. Recognise current tax for the year.

Taxable profit
234,000
Enacted tax rate (%)
25 %
Your answer
  1. Line 1

    Account Current tax expense

  2. Line 2

    Account Current tax liability

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