Page 60 - F6 Slide - Taxation - Lecture Day 2

Where are we in the companies' tax

calculation?

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

Less: Assessed losses (XXX)

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