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Compute the Tax payable of ABC Corporation

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Question - Compute the Tax payable of ABC Corporation on the basis of following information: (Note: - Tax Rate is 28% on corporate entities.)

Accounting Profit1,000,000

Accounting depreciation (including assets under Leasing) 175,000

Head office expenses 125,000

Computer software cost-Capitalized in accounts 100,000

Finance charges on assets taken on Lease 75,000

Lease Rental 130,000

Interest paid to other Branches Abroad 15,000

Reference no: EM132563253

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