ضرائب مستحقة

A: Tax Payable are liabilities owed by the company to various government authorities, including: Income Tax Payable (on company profits), VAT Payable (the difference between output and input VAT), and Withholding Tax Payable (tax withheld by the company from its payments to other parties and remitted to tax authorities).

A: Income Tax Payable is calculated by multiplying the taxable net profit (after adjustments) by the applicable tax rate in the country (e.g., 20% or 25%). Tax rates vary by country laws and company profit levels. Tax exemptions and allowable deductions must also be considered.

A: Income Tax Payable is the actual tax due on current year profits, payable to the tax authority. Deferred Tax is tax arising from temporary differences between accounting treatment and tax treatment of items (e.g., depreciation), recorded as an asset or liability on the balance sheet.

A: Income tax payable, VAT payable (net amount due to tax authority), withholding tax, and other taxes (e.g., commercial profit tax).

A: At period end, after offsetting output and input VAT, if output VAT is greater, the entry is: Dr. VAT on Sales, Cr. VAT on Purchases, Cr. VAT Payable.