Page 22 - F1 Integrated Workbook STUDENT 2018
P. 22
Chapter 1
The rules for allowed and disallowed items will vary according to the tax regime of
the country in question. These specific rules will always be given in the assessment
question.
Taxable profit
calculation
Exempt Disallowable Depreciation Tax
income expenses depreciation
Not allowed
Any Expenses for tax Used instead
income deducted from purposes – of
which accounting add back – accounting
does not profit but not and replace depreciation,
relate to allowable with tax specifics will
main under depreciation be given in
trading accounting question
activity standards
12
