Browsed by
Month: May 2018

COMPANIES INCOME TAX – TAX SERIES BY ENIOLA AKINOSO – SEASON 6

COMPANIES INCOME TAX – TAX SERIES BY ENIOLA AKINOSO – SEASON 6

After profits from all sources are added into the Tax basket, the exempted profits, deductions allowed and all allowances like Capital Allowances, Rural Investment Allowance, etc are removed from the basket. The remaining profits in the Tax basket – Taxable Income, are then subjected to Companies Income Tax rate of 30% in Nigeria.