Income tax increases taxes and therefore reduces the net income after tax

Impuesto a las utilidades is commonly used in Mexico, which is translated as "tax on earnings"

Hope this helps.

If this is a company, then the 'tax on earnings' ought to be made specifically referable to the company. UK companies do not pay income, but corporation - and not the usual misnomer of corporate tax.

PS A balancing charge in the UK doesn't refer only to capital, writing-down allowances, but also an amount of income tax payable. However, a 'balancing charge on paper for corporation tax' would be moving too far away from the original Spanish.