Question

example of how double taxation occurs?

Answer 1

A company incurred in 2006 a loss of 27.000. Its profits and losses in subsequent years were as follows:
2007 profit 40.000
2008 loss 2.000
2009 profit 35.000
2010 profit 15.000
Assuming that the company is allowed to carry forward the tax losses incured 2006 and 2008 (by lowering the tax base with maximum 50% of the tax loss, no longer than within 5 years) and that the CIT rate = 19% calculate the tax due.