Page 26 - F6 Slide - Taxation - Lecture Day 2 Class

Exemptions

• Two broad categories.

a)Partial (eg company that receives sales and

dividends the dividend will be exempt and the

salary will not be exempt)

b)Absolute (eg exemption as a result of the

nature of the institution for example PBO.

For examination purposes first include the

amount in the gross income and then exclude it

under exemptions.

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