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What is the total tax expense for the year

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Reference no: EM132976873

Question - The accountant of haha Company presented the following information in line with your audit of haha Company's income tax related balances:

Pre-tax financial income 12,000,000

Non-taxable income 1,200,000

Non-deductible expenses 400,000

Provision for warranties which are tax deductible upon settlement in the future 600,000

Prepaid advertising expenses which are tax deductible upon payment in the current period 500,000

Excess tax depreciation over financial depreciation 400,000

The current tax rate is at 32% but is expected to increase in the following year to 33%

Required - What is the total tax expense for the year?

Reference no: EM132976873

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