Interest received:

Required

Calculate corporation tax payable by the company for the year ended $31\mathrm{.}12\mathrm{.}2017.$Question $6(20$ marks$)$

B Ltd is a Cyprus Tax Resident Company.

For the year ended $31\mathrm{.}12\mathrm{.}2017$ the company had a net profit of $310,000$ euros and turnover of $1,550,000$

euros.

The net profit was calculated after taking into consideration the following

Notes

Depreciation was calculated on assets held $t_{31\mathrm{.}12}\mathrm{.}2017$ :

a$.$ Shop acquired on $1\mathrm{.}12\mathrm{.}2003$ for $50,000$ euros $(15,000$ cost of land$)$

b$.$ Saloon car acquired on $1\mathrm{.}6\mathrm{.}2005$ for $28,000$ euros

c$.$ Office equipment acquired on $1\mathrm{.}1\mathrm{.}2015$ for $42,000$ puros

d$.$ Computer hardware acquired on $1\mathrm{.}1\mathrm{.}2015$ for $14,000$ euras

e$.$ Office building acquired on $1\mathrm{.}1\mathrm{.}2003$ for $130,000$ euros $(45,000$ cost of land$)$

Tax paid during the year:

Interest paid:

Interest paid$-$loan for land acquisition for investment $,11,000$

Interest paid$-$income tax late payment $,2,000$

Gross interest paid$-$payables accounts $6,{000}_{?}$

$19,000$