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Hi, I have a question
A Company utilized WHT Credit Notes of N10M to offset part of its tax liabilities, and paid another N2M cash for the outstanding tax.
Should the company report N12M in Cashflow as Tax paid, or N2M?
I have no idea what you are meaning by WHT or by N10M.
The Statement of Cash Flows is showing the amounts of cash paid and received, but your question is not relevant for Paper FA.
Sorry for that where can I ask then? WHT is short for withholding tax and N20m is 20 million naira.
Withholding tax is not relevant for Paper FA.
Which ACCA paper are you studying for?
The question pricked my interest, I just don’t want to limit my learning to just what is in the syllabus.
I am currently preparing for MA, and thank you Mr John I was able to score 77% in my FA exams ?
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