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

Question

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

Lorina Fedan · Accepted Answer

1. A report on financial results is drawn up.

2. The total amount of income for the reporting period is calculated.

3. Profit is calculated.

4. Income tax is calculated. (multiplying the profit by the tax rate - 18%).

5. Income tax is reduced on advance payment of income tax, if any.

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

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