A tax computation is a statement showing the tax adjustments to the accounting profit to arrive at the income that is chargeable to tax. To determine the amount of tax chargeable, certain deductions are taken from gross income to arrive at the taxable income. Once the amount of taxable income has been determined, tax rate charts determine the exact amount of tax chargeable. A company's chargeable income is usually different from the net profit/loss shown in its accounting books. This is becau...
The 21st century will be Africa’s century of economic development. Incomes will be rising rapidly and Africa will become one of the main engines of economic progress in the world. For this to happen, markets must be liberalized and barriers to trade eliminated. Without hindrance, businesses should be able to source anywhere, manufacture anywhere, and sell anywhere. Free trade and free competition are essential if standards of living are to rise. Countries should realize that what is good fo...
