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Company pay simplified tax (turnover*6%) as per local legislation and not pay corporate tax. How we have to show simplified tax in the income statement as income tax below net profit or as cost?
in IAS 12 - Income Taxes by Level 1 Member (1.1k points)

1 Answer

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Its depends weather simplified tax is calculated on income or profit basis, if yes then it would be shown in income statement after profit before tax other wise this would be shown as expense in income statement.
by Level 5 Member (11.3k points)