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How do I achieve Tax Rate % (ETR) and Consolidated Effective Tax Rate % (CETR)

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edited Oct 15, 2020 1:25PM in Tax Reporting 1 comment

Summary

I would like to achieve ETR and CETR data in the respective forms

Content

For the Tax Rate %, I have the following: 

(A) Profit Before Tax = $29,965,595 

(B) Corporate Tax GL Account + Deferred Tax GL Account = Sum of ($6,685,901 & -$577,045) = $6,108,856

Tax Rate in this instance is B/A = $6,108,856/$29,965,595 i.e. 20.4%

My questions: (1) How do I get this Tax Rate in TRCS with the above calculation and (2) which form in TRCS would show me this data? Do I need to do any specific tagging (like CETR) to get this %?

For Effective Tax Rate, the components and calculations are given below :-

(C) Dividends from Investment - $10,000,000

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