Is taxable income the total profit?

Taxable income is the total profit. Taxable income refers to the balance of taxable income after deducting various expenses that can be deducted according to the laws of People's Republic of China (PRC) in a certain period of time in accordance with the relevant provisions of the tax law. Taxable income is the tax basis for calculating enterprise income tax. The taxable income stipulated in the enterprise income tax law refers to the total income of an enterprise in each tax year, after deducting non-tax income, tax-free income, various deductions and losses allowed to make up in previous years.

Total profit is the symmetry of total loss. The net income of an enterprise is one of the components of the final financial results obtained by the enterprise through production and business activities in a certain period of time. The total profit of industrial enterprises is mainly composed of sales profit and net non-operating income and expenditure, and non-operating expenditure is deducted from profits. For enterprises that pay resource tax according to regulations, the resource tax that should be paid is also one of the components of total profits. The total profit should be distributed between the state and enterprises according to regulations. Most of them are handed over to the state in the form of income tax, adjustment tax or profit, and a small part is left to enterprises to form various special funds. The total profit of industrial enterprises is accounted for by the "profit" subject.