Page 10 - P6 Slide Taxation - Lecture Day 6 - Provisional Tax Companies Only
P. 10
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?
