How are corporate income taxes calculated? What kinds of…?

Solved #profit #calculation #taxes #taxable #profit

Anastasiia Novikova

05.06.2023 14:49 • Question

…expenses can be taken into account when calculating taxable income?

1 Answers

Lorina Fedan

Answer provided 05.06.2023 16:08

A report on financial results is drawn up.
The total amount of income for the reporting period is calculated.
Profit is calculated.
Income tax is calculated. (multiplying the profit by the tax rate - 18%).
Income tax is reduced on advance payment of income tax, if any.

Accounting income and expenses initially participate in the calculation of income tax.

The answer is informational and does not replace a full legal consultation. For a detailed analysis of your situation, contact a lawyer directly.

Legal Services

Calculation of corporate income tax liability based on the company's financial results. Includes determination of the tax base, application of the 18% rate, and accounting for advance payments.

Preparation of the Statement of Financial Performance, which serves as the primary basis for calculating corporate income tax. We ensure the accuracy of accounting data for tax purposes.

Providing clarifications on the procedure for calculating profit, determining income and expenses. Assistance in the correct application of the tax rate and accounting for advance payments.

How are corporate income taxes calculated? What kinds of…?

1 Answers

Lorina Fedan

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