The company, North S.L., has the following information in the Balance Sheet and Profit and Loss Account
for 2016, before calculating its Corporate Tax:
69.360,00 A) NON CURRENT ASSET A) NET EQUITY 105.130,00
4.860,00 1. Intangible asset A-1) Equity 60.000,00
4.860,00 1. R+D 1. Capital 60.000,00
4.860,00 201 DEVELOPMENT 1. Issued capital 60.000,00
64.500,00 II. Tangible Fixed Assets 100 SOCIAL CAPITAL 19.500,00
64.500,00 2. Technical facilities and others. III. Funds 12.000,00
52.000,00 213 MACHINERY 1. Legal y statuary 12.000,00
8.000,00 216 FURNITURE 112 LEGAL FUNDS 7.500,00
3.500,00 217 INFORMATION PROCESSING EQUIP. 2. Other funds 7.500,00
25.000,00 218 TRANSPORT 113 VOLUNTEER FUND 25.630,00
-24.000,00 281 CUMULATIVE DEPRECIATION VII. Result of the fiscal year 32.000,00
104.050,00 B) CURRENT ASSET B) NON-CURRENT LIABILITY 32.000,00
20.500,00 II. Stock II. Long-term debts 32.000,00
20.500,00 1. Commercial 5. Other financial liabilities 32.000,00
20.500,00 300 GOODS 171 LONG-TERM DEBTS 36.280,00
16.250,00 III. Debtors C) CURRENT LIABILITY 6.100,00
11.850,00 1. Clients (sales and services) III. Short-term debts 6.100,00
11.850,00 b) Clients (sales and services) short-term 5. Other financial liabilities 6.100,00
14.300,00 430 CLIENTS 523 SUPPLIERS 30.180,00
1.800,00 431 CLIENTS, COMMERCIAL PURPOSE V. Creditors 11.200,00
-4.250,00 490 VALUE IMPAIRMENT 1. Suppliers 11.200,00
4.400,00 6. Other credits with Public Adminis. b) Short-term suppliers 11.200,00
4.400,00 473 PUBLIC FINANCES, WITHOLDINGS 400 SUPPLIERS 18.980,00
67.300,00 VII. Cash 3. Different Creditors 18.980,00
67.300,00 1. Treasury 410 Creditors 105.130,00
2.200,00 570 CASH FLOW, EUROS
65.100,00 572 BANKS AND CREDIT INSTITUTIONS 173.410,00 T OTAL ASSETS TOTAL NET EQUITY AND
LOSS AND PROFIT ACCOUNT
1. Net revenue 204.300,00
700 SALES OF GOODS 200.000,00
705 PROVISION OF SERVICES 5.500,00
708 SALES RETURNS -1.200,00
4. Supplies -69.800,00
600 PURCHASE OF GOODS -72.450,00
610 CHANGE IN INVENTORY 2.650,00
6. Staff costs -75.170,00
640 WAGES AND SALARIES -56.800,00
642 SOCIAL SECURITY -16.470,00
649 OTHER SOCIAL EXPENSES -1.900,00
7. Other operating costs -19.850,00
626 BANK SERVICES -700,00
627 ADVERTISING AND PR -3.600,00
628 SUPPLIES -3.800,00
629 OTHER SERVICES -7.100,00
631 OTHER TAXES -400,00
694 IMPAIRMENT LOSSES -4.250,00
8. Depreciation – 13.950,00
The company, North S.L. Case Study –
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University : ENEB Country : Australia
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Uploaded By : Brett Posted on : June 17th, 2019 Downloads : 2
681 DEPRECIATION – 13.950,00
12. Other outcomes – 600,00
678 EXTRA COSTS – 600,00
A) ACTIVITY OUTCOME 24.930,00
13. Financial income 700,00
b) Other financial income 700,00
769 OTHER FINANCIAL INCOME 700,00
B) FINANCIAL OUTCOME 700,00
C) INCOME BEFORE TAXES 25.630,00
D) FISCAL YEAR OUTCOME 25.630,00
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.
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.
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.
Provision of € 1,250 is provided for a debt that occurs on October 1, 2016. The liability has not been
A provision for insolvencies of € 3,000 is provided, an obligation that has already been judicially claimed.
The administrators have been paid for the performance of senior management functions with € 10,000.
An administrative penalty of € 600 has been imposed on the company.
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.
The company is entitled to a deduction for having made investments affected to R & D of € 1,200.
The company has made instalment payments of € 4,400.
Calculate the liquidation of the Corporate Tax in a word document, using the following scheme.:
102870059055Accounting result +/- Permanent differences +/- Temporal differences – Set-off for tax
bases from previous tax years. Tax Base X tax rate Full quota – Tax deductions, bonuses and other
withholdings Net quota – Withholdings and part payments Tax difference 00Accounting result +/-
Permanent differences +/- Temporal differences – Set-off for tax bases from previous tax years. Tax
Base X tax rate Full quota – Tax deductions, bonuses and other withholdings Net quota – Withholdings
and part payments Tax difference
North S.L. is thinking of making an international expansion. However, you need to determine whether to
start big in a new market or expand into a potentially large market, but at a slower and safer pace. The
options that the company’s management has are:
Enter the North American market, where it is known that their services can work, but they do not know
in depth. They can enter through Canada and expand across the United States or vice versa.
Open slowly but firmly in the Portuguese-speaking market. Due to its proximity, they know the
Portuguese market perfectly, and this would allow North S.L. access to the Brazilian market, a country
with a thriving economy.
To find out which option is more beneficial for North S.L., compare the possibilities that arise and justify
which of the two is better, considering which country offers better fiscal conditions and that North S.L.
seek the most significant benefit.
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