CURRENT TAX EXPENSE

Php 4,000,000.00
Php 0.30
Php 1,200,000.00

TOTAL TAX EXPENSE

Php 3,000,000.00
Php 0.30
Php 900,000.00

DEFERRED TAX
Php 200,000.00
Php 0.30
(Php300,000.00)
INCOME STATEMENT FOR 2020

Income Before Income Tax Php 3,000,000.00

Income Tax Expense
Current Tax Expense Php 1,200,000.00
Deferred Tax Expense (Php300,000.00) (Php900,000.00)
Net Income Php 2,100,000.00

Income Tax Expense Php 1,200,000.00

Income Tax Payable Php 1,200,000.00

Deferred Tax Expense Php 300,000.00

Deferred Tax Asset Php 300,000.00