Umbrella Corporation is an Luxembourg investment firm. In 2020 it earned 0.5 € of profit. In February 2021 it paid 0.5m € out as dividends, and it also bought a Rolex watch (for 20,000 €) which one of its shareholders is using. The corporate tax rate is 20%.

1)   How much corporate tax is due from Umbrella Corporation and when?

2)  Would something change if Umbrella Corporation were located in Sweden (which has a classical tax system, and a tax rate of 21.4%)?

3)  Would something change still if Umbrella Corporation was located in Sweden (which has a classical tax system, and a tax rate of 21.4%), but had earned a loss of 0.4m € in 2019, and that loss had not been used or set off by anyone?