Page 3 - Provissional Tax For Companies
P. 3

Where are we in the companies' tax framework?







      Gross Income                                                                                                                  XXXX


              •General Definition


              •Specific Inclusions

      Less : Exempt Income                                                                                                            (XX)


      Income                                                                                                                        XXXX


      Less : Allowable Deductions


              •General Deduction Formula; specific deductions; capital

              allowances

      Taxable Income from Business Activities                                                                                       XXXX


      Plus : Taxable Capital Gain                                                                                                     XXX


      Total Taxable Income for the year of assessment                                                                               XXXX


      Tax payable @ 28%                                                                                                               XXX


      Less:  Provisional tax                                                                                                         (XX)


      Tax payable/refundable for the year of assessment                                                                             XXXX
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