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T Company began operations at the beginning of current year. At the end of the first year of operations, the entity reported P6,000,000 income before
T Company began operations at the beginning of current year. At the end of the first year of operations, the entity reported P6,000,000 income before income tax in the income statement but only P5,100,000 taxable income in the tax return. Analysis of the P900.000 difference revealed that P500,000 was a permanent difference and P400.000 was a temporary tax liability difference related to a current asset. The enacted tax rate for the current year and future years is 30% What is the total income tax expense to be reported in the income statement for the current year? 1.800.000 1.950.000 0 1530,000
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