Deferred Tax Liability - $25 000 000Over provision- $8 000 000 ...
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Deferred Tax Liability - $25 000 000Over provision- $8 000 000 
Taxation The company is currently unregulated, hence, it pay income taxes at the rate of 25%. The entity has accumulated deductible temporary difference amounting to $100 million and the committee indicated that it is probable that the company will earn sufficient taxable profits in the future to realize the entire deductible temporary differences. The entity reported taxable profits for the year of assessment December 2021 amounting to $240 million
Over provision- $8 000 000
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