Page 35 - P6 Slide Taxation - Lecture Day 7 - Various Topics
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Example - company
A company whose year of assessment ends on 31
December 2015 estimates on 31 December 2015 that
it will derive a taxable income of R2 000 000 for the
year. Its last assessment reflected a taxable income of
R1 900 000, which represents its basic amount in
relation to the current year. In March 2016 the
taxable income of the company for the year of
assessment ending on 31 December 2015 is
calculated to be R2 400 000.
• What provisional tax payments should the
company make according to the Act? When will
the payments be due?
