Page 108 - P6 Slide Taxation - Lecture Day 7 - Various Topics
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Example
• Six Ltd received the following amounts during the 2019
year of assessment: Gross foreign royalties (foreign tax
of R1 000 paid) ..................................................R10 000
• Foreign interest (foreign tax of R5 600 paid) ....R14 000
Other foreign income (foreign tax of R12 000 paid)
..................................................... …………………..R30 000
South African receipts ................................... R114 000
All foreign taxes paid are not recoverable.
• Calculate the foreign tax credit in terms of s 6 quat and
the normal tax payable of Six Ltd for its year of
assessment ended 28 February 2019.
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