The Corporate Income Tax (CIT) Act reform effective from 1 January 2018 has brought changes to all aspects of CIT treatment, including thin capitalisation rules. This article explores whether banks and insurance companies should include their excess interest expenses in their CIT base (taxable income).
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Ask questionOn 10 May 2021 the State Revenue Service (“SRS”) posted on their website an update to “Bad Debts” offering guidance on how VAT and corporate income tax should be applied. This article explores the VAT treatment of debt assignment.
To pick up where we left off in our earlier article Ways of reducing tax on profit distribution, which discusses how to minimise your corporate income tax (“CIT”) liability when distributing “new” profits, this article explores some personal income tax (“PIT”) relief an individual can take even if the company has already claimed one of the available CIT reliefs according to the current practice.
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