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Tax Part 9
When to use
When constructing a basic Financial Model
- This section calculates the Tax Control Account
- The Closing Tax Payable in cell I362 is taken from I332
- The Opening Tax payable is taken from the previous period’s Closing Balance
- The Tax Expense is taken from the previous calculation in J275
- The Tax paid is taken from the previous calculation in J331
- The Movement in DTAs taken from the previous calculation in J349
- The Movement in DTLs taken from the previous calculation in J311
- The Closing Tax Payable is the sum of the above rows
- The items of the Control Account can now be entered into the Financial Statements
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