Page 43 - F1 Integrated Workbook STUDENT 2018
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Corporrate Incoome Tax and Cappital Tax Computations








                   Exxampple 3




                   Usinng the infoormation froom exampples 1 and 22 calculatee the taxabble profit for
                   the year endeed 31/12/X1.

                   Solution
                                                                      $
                   Acccounting prrofit                             50,000
                   Lesss: exempt income                             (5,000)
                   Addd back: disallowable eexpenses                3,500
                   Addd back: deppreciation (example 11)            7,000
                   Lesss: tax deprreciation (eexample 2)          (11,200)
                                                                 – –––––––
                   Taxxable profitt                                44,300
















































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