Tax Balance — Calculating the tax base
The tax balance is a report calculating the tax base for corporate income tax. It starts from accounting profit, then adjusts for non-deductible expenses and reliefs to determine the tax base × 10%.
Definition
The tax balance is a report calculating the tax base for corporate income tax. It starts from accounting profit, then adjusts for non-deductible expenses and reliefs to determine the tax base × 10%.
Details
Formula: Accounting profit + non-deductible expenses (penalties, personal costs, excessive entertainment) − reliefs (reinvested profit in certain zones) = tax base × 10% = tax. Deadline: by March 15 for the previous year. Filed electronically to UJP.
Example
Accounting profit: 1M MKD + non-deductible expenses 50K (traffic violation fine) = tax base 1.05M × 10% = tax 105,000 MKD.