Banking
Corporate Income Tax Provision
Accruing the annual income tax on the bank's taxable profit.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Income Tax Expense | Expense (+) | 8,000,000.00 | - |
| Income Tax Payable | Liability (+) | - | 8,000,000.00 |
💡 Accountant's Note
Jordanian banks pay income tax at the applicable corporate rate (currently 35% for banks). Stage 3 loan provisions are generally tax-deductible; Stage 1/2 collective provisions are not, creating significant deferred tax items.
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