Education
Corporate Income Tax Provision (For-Profit School)
Accruing the annual income tax for a privately owned for-profit educational institution.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Income Tax Expense | Expense (+) | 35,000.00 | - |
| Income Tax Payable (ISTD) | Liability (+) | - | 35,000.00 |
💡 Accountant's Note
For-profit schools in Jordan pay income tax on their profits. Not-for-profit educational associations registered under the Societies Law may have a different tax treatment.
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