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Compute current cit liability

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Reference no: EM132531361

Operating income before tax (accounting profit) for Company Alpha Plc. in 2019 was €800.000. According to Corporate income tax law, Company Alpha Plc. taxable income (profit) for 2019 is €1.000.000.

The difference between accounting profit and taxable profit is result of:

permanent differences €50.000
the remaining are temporary differences
Tax rate is 20%.

Required

Question 1: compute current CIT liability

Question 2: compute deferred tax asset

Question 3: compute deferred tax liability

Question 4: compute CIT expense

Question 5: compute net profit

Reference no: EM132531361

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