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PR

INCOME TAX PUBLIC RULING FOR TAX AUDIT FRAMEWORK

Main objective of a tax audit is to encourage voluntary compliance with the tax laws and regulations and ensure that the information provided in the income tax returns are accurate and in accordance with the tax laws and regulations.

You may click here for the said Public Ruling.

 

INCOME TAX PUBLIC RULING FOR DEDUCTIBLE AND NON-DEDUCTIBLE EXPENSES (SECTIONS 11 AND 12 OF INCOME TAX ACT)

(a) The tax treatment of business expense as a deduction against gross revenue of a business; and

(b) Steps to determine the amount of the business expense allowable as a deduction

You may click here for the said Public Ruling.

 

INCOME TAX PUBLIC RULING FOR CONSTRUCTION CONTRACTS AND PROPERTY DEVELOPMENT

The purpose of this ruling is to explain how income is determined to compute income under section 8 of the Income Tax Act from the business of construction contracts and property development.

You may click here for the said Public Ruling.

 

INCOME TAX PUBLIC RULING FOR WITHOLDING OF TAX

The objective of this ruling is to explain:-

(i) the specified nature of payment that are chargeable to tax;

(ii) the applicable tax rates; and

(iii) the method of payment of tax from this specified nature of income.

 You may click here for the said Public Ruling.

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