Question
Company H presents the following situation regarding the accounting profit and the taxable profit: Gross accounting profit (before tax) 600,000 Permanent differences between accounting profit
Company H presents the following situation regarding the accounting profit and the taxable profit:
Gross accounting profit (before tax) 600,000
Permanent differences between accounting profit and taxable profit 15,000
Temporary differences between accounting profit and taxable profit (76,000)
Taxable profit 539,000 Knowing that the tax rate is 34%:
a. Calculate tax expense for financial purposes.
b. Calculate the profit tax payable to the tax authorities (tax payable).
c. Identify and calculate the increase / decrease of deferred tax liabilities / debts.
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