Current tax is the amount of income tax payable or refundable on the entity's taxable profit or tax loss for the period, as determined by taxing authority.

Question

Quizplus · Accepted Answer

Current tax is indeed the amount of income tax that is payable or refundable for a particular period based on the taxable profit or tax loss as determined by the relevant tax laws and regulations of the taxing authority.

Current Tax Is the Amount of Income Tax Payable or Refundable