At the start of the year Galvelle had a tax receivable (excess instalments) of 25,000; at year-end it has a current tax liability of 58,000. Current tax for the year is 241,000 (case data). Compute net tax paid.
- Opening tax receivable
- 25,000
- Closing current tax liability
- 58,000
- Current tax for the year
- 241,000