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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › current tax
sir wanted to confirm the following,
Current tax expense in SPL and amount paid to tax authorities in current year= current tax estimate for current year’s profits+ under provision last year – over provision last year
Current tax payable in SFP= current tax estimate for current year’s profits
Can you confirm if all of the above information mentioned is correct?
I think that is a fair summary. P&L charge will include any adjustment for prior year tax which was under- or over- accrued.