Legal analysis: Check whether it is a tax late payment penalty. If it is a tax late payment penalty, it cannot be deducted; on the premise that it is not a tax late payment penalty, whether the behavior that generates the late payment penalty is related to the income of the enterprise. If it is not related, it will not be deducted. No deductions allowed. In other cases, late payment fees may be deducted before income tax.

Legal basis: "Income Tax Law of the People's Republic of China"

Article 54 Corporate income tax is paid in advance on a monthly or quarterly basis. Enterprises shall submit a prepaid corporate income tax return to the tax authorities within fifteen days from the end of the month or quarter and prepay the tax. The enterprise shall submit the annual corporate income tax return to the tax authorities within five months from the end of the year, make the final settlement, and settle the tax payable and refundable. When an enterprise submits a corporate income tax return, it shall attach financial accounting reports and other relevant materials in accordance with regulations.

Article 55 If an enterprise terminates its business activities in the middle of the year, it shall handle the final settlement of corporate income tax for the current period with the tax authorities within 60 days from the date of actual termination of operations. Enterprises should declare their liquidation income to the tax authorities and pay corporate income tax in accordance with the law before going through the deregistration process.

Article 56 Enterprise income tax paid in accordance with this Law shall be calculated in RMB. If the income is calculated in a currency other than RMB, it shall be converted into RMB, calculated and taxed.