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Corporation tax and expenses

businessdit · 2016-06-04 22:05:12

Hi does anyone know anything about tax? If I have a company and say make €10,000 profit but have €10,000 expenses, do I pay corporation tax on the profit even though I had these reciepted expenses? Or is the profit not seen as corporation tax deductible? Thanks

04-06-2016 10:05pm

#1

businessdit

Registered Users, Registered Users 2 Posts: 173 ✭✭

Join Date: April 2010

Posts: 82

Hi does anyone know anything about tax?

If I have a company and say make €10,000 profit but have €10,000 expenses, do I pay corporation tax on the profit even though I had these reciepted expenses?

Or is the profit not seen as corporation tax deductible?

Thanks

0

Comments

#2 04-06-2016 10:16pm

barneystinson

Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭

Join Date: April 2010

Posts: 4606

businessdit wrote: »

Hi does anyone know anything about tax?

If I have a company and say make €10,000 profit but have €10,000 expenses, do I pay corporation tax on the profit even though I had these reciepted expenses?

Or is the profit not seen as corporation tax deductible?

Thanks

Wow. Where to start...

Profit is sales minus expenses.

Profit is not corporation tax deductible, how could it be, a deduction is something you take off in working out how much profit is to be taxed.

0