01-31-2010, 06:53 AM
What is the accounting treatment of withholding tax paid as an advance tax on importation of goods and assuming that the income tax payable for the period is less than the advance tax paid. How would it be presented in the balance sheet and cashflow statement.
Does it fall under income tax paid or it forms part of working capital changes in the cashflow statement assuming it is taken as acurrent asset in the balance sheet?.
Richard Oita
Does it fall under income tax paid or it forms part of working capital changes in the cashflow statement assuming it is taken as acurrent asset in the balance sheet?.
Richard Oita
