What is the current tax expense

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Question - CHARIZARD Company reported total tax expense of P2000000 in its 2022 statement of comprehensive income. The following changes in Charizard's tax assets and liabilities are available:

 

December 31, 2022

December 31, 2021

Deferred tax asset

100,000

350,000

Income tax payable

350,000

600,000

Deferred tax liability

230,000

500,000

The deferred tax liability was caused by accelerated depreciation and the deferred tax asset is for rentals received in advanced. What is the current tax expense for 2022?

Reference no: EM133172374

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