The submission and payment of Income Taxes are inevitable realities for companies and the professionals that are charged with the responsibility of handling the tax affairs of these entities. This course aims to assist taxpayers with understanding the principles on which the taxation of companies is based.

This session will cover the following: • General compliance matters related to companies, including provisional tax considerations • Gross income and income that is exempt for tax purposes • Allowable and prohibited deductions and losses including capital allowances and CGT (this will not be an in-depth discussion – for dedicated sessions on these matters, please visit our recordings platform) • Possible adjustments to be made between accounting profit and taxable income • Utilisation of assessed loss balances and the change in the CIT rate • Various miscellaneous tax rules and possible anti-avoidance measures for companies to look out for • Administrative process for the submission of returns and the IT14SD reconciliation (Please note that this course is not a practical session on eFiling)

Those charged with the responsibility of submitting taxes for companies, including tax professionals and financial officers or directors. Auditors will also benefit from this course, as it covers the same principles required when auditing the tax liability and expense.