If you get into the weeds of tax policy and had a contest for parts of the internal revenue code that are “boring but important,” depreciation would be at the top of the list. After all, how many people want to learn about America’s Byzantine system that imposes a discriminatory tax...
As the schedule of depreciation rates is determined by the Commissioner-General of Taxation this would be a matter for the IRC, in consultation with Industry.Given the limited resources of the Page 38 Depreciation IRC, there is however a question as to whether or not this should be a short ...
Examples of non-deductible expenses include: ● Depreciation of fixed assets which is not in accordance with the prevailing regulations; ● Employee remuneration expenses which are not actually paid, or are not stated in a labour contract, collective labour agreement or company policies; ● Staff ...