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For 20X6, TurpidPlc. has a taxable income of Tshs250 million. The applicable tax rate is
30%. Turpid provided Tshs.50 million for income tax during 20X5. For 20X5, the actual
liability decided was Tshs.54 million.
Required: Advise the company on the required presentationin the financial statements.
Would your answer be different if the actual liability for 20X5 was Tshs.47.5 million?



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