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Sir, in a cash flow forecast,
1) do we assume that the last year’s interest charge will be paid off this year ( as has been the case in this qn )
2) to compute the tax paid, should we not add last year’s outstanding tax balance to this year’s tax charge and deduct this year’s outstanding balance? Instead, here, they have taken last year’s outstanding balance as the figure for tax paid. Why is this so?
The tax paid is computed as above in cashflow statements prepared according to IAS 7. Why should I consider last year’s balance as the tax paid, sir?
Many thanks
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