The first year profit of 500,000, the second year loss of 1.2 million, the third year profit of 2 million, the third year should be how to calculate income tax?
The tax law provides that the profits of the year can make up for the losses of previous years, can be made up for five consecutive years forward, the first year of profit of 500,000 should pay corporate income tax, the second year of losses to be used to make up for the profits of the following year, so, without taking into account the impact of adjustments, the third year of the income tax payable = (2,001,200) * 25% = 200,000 yuan.