but it must also take into account all other provisions of the Income Tax Act 1967.33 In practice, the starting point for the calculation of tax liability is the profit before tax and adjustments in the tax computation will be required where the tax treatment differs from the accounting treatme...
G. Computation of RPGT H. Administrative aspects of RPGT Part III I. RPGT implications on death of an individual J. Intra-group transfers and reliefs K. Real property company shares Part 1 discusses the provisions relating to the general aspects of the Real Property Gains Tax Act...
Moreover, net losses carried forward are 25 This is common practice in the literature using country-by-country data for the analysis of profit dis- tribution and computation of effective tax rates (see, for example, Hugger et al. (2023)). 26 Note that this issue has a limited ...
The tax payable by the seller represents a prepayment of its corporate tax liability and is available as a credit in its annual corporate tax computation. The tax payable by the purchaser may not be claimed as a credit and therefore represents an additional cost of such an acquisition. The ...
heads.Thecomputationofbusinessincomeisnormallybasedontheprofitsshowninthefinancial statements,afteradjustingforexemptincome,nondeductibleexpenditure,specialdeductionsand unabsorbedlossesanddepreciation. Dividendspaidbyadomesticcompanyareexemptfromtaxinthehandsoftherecipientprovided DDThasbeenpaidbythedistributingcompany,butdivi...
based businesses check out the new simplified option for claiming the home office deduction, a straightforward computation that allows eligible taxpayers to claim $5 per square foot, up to a maximum of $1,500, instead of filling out a 43-line form (Form 8829) with often complex calculations....
(i) of the meeting notes): (i) The tax implication to Green-HK arising from the sale of the land and store building, including a computation of the applicable depreciation allowance for each year of ownership and in the year of disposal; (4 marks) (ii) The impact of the potential purc...
Author’s computation (see Section 3.2.1) based on data extracted from the ‘UNU-WIDER Government Revenue Dataset’. Version 2021. https://www.wider.unu.edu/project/grd-%E2%80%93-government-revenue-dataset (Accessed in 20 June 2021). SHADOW This is the measure of the share of the size...