Calvidra (accounting profit 3,000,000, applicable rate 25%) remeasured its opening deferred tax liability following a rate cut enacted for future years: deferred tax income of 40,000 (case data). It also has non-deductible expenses of 60,000. Compute the tax expense resulting from the numerical reconciliation.
- Accounting profit
- 3,000,000
- Applicable rate (%)
- 25 %
- Income from the rate cut
- 40,000
- Non-deductible expenses
- 60,000