Explore answers with confidence.
Search through curated knowledge and find what you need — fast.
Question: Is the tax imposed on gross business income?
Company Income Tax - (a) Gross Business Income
Answer: The taxation of a business is not on the gross income of the business but on the profit or profit derived as provided by Paragraph 4 (a) of the ITA 1967. Profit or profit from business refers to an excess of the amount after the allowable expense is deducted from the gross income of the business.
Services
HA & CO. Chartered Accountants provide auditing, accounting, business & tax advisory and more. EXPLORE MORE.
Explore More