1 Make in each of the following points the adjustment needed to obtain the tax base of the Corporate Tax, basing the response and establishing the amount that corresponds You must also indicate if you are facing a temporary or permanent difference In points 8 and 9 you should not propose any adjust...

Deferred tax asset is an item in the balancesheet which represents the overpayment of tax in previous period due to the timing difference but which reduces the tax for the next period due to current t ...

1. Make in each of the following points the adjustment needed to obtain the tax base of...

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Question:

1. Make in each of the following points the adjustment needed to obtain the tax base of the Corporate Tax, basing the response and establishing the amount that corresponds. You must also indicate if you are facing a temporary or permanent difference. In points 8 and 9 you should not propose any adjustment, in these two cases you should describe how they affect the liquidation of the Corporate Tax.

2.The machinery was acquired for € 52,000 in January 2014. An accounting depreciation expense of € 7,000 is provided. Fiscally a maximum amortisation coefficient of 12% and a maximum period of 18 years is established.

3.The transport element or vehicle was acquired on January 1, 2013, with a price of € 25,000 and a useful life of 5 years. The accounting amortisation is carried out using the method of decreasing digit numbers.

4.Provision of € 1,250 is provided for a debt that occurs on October 1, 2016. The liability has not been claimed judicially.

5.A provision for insolvencies of € 3,000 is provided, an obligation that has already been judicially claimed.

6.The administrators have been paid for the performance of senior management functions with € 10,000.

7.An administrative penalty of € 600 has been imposed on the company.

8.The company has paid the posters for a sports conference for its employees. This serves to advertise their products and services and has cost € 1,200. The company gave the customers who attended the event a batch of products worth € 2,200. Extraordinarily, he has given his employees an assortment of products worth € 400.

9.The company is entitled to a deduction for having made investments affected to R & D of € 1,200.

10.The company has made instalment payments of € 4,400.