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Company purchased a land for business purposes costing OMR 40,000. The accountant charged depreciation on land at 10% per annum. The company reported a profit
Company purchased a land for business purposes costing OMR 40,000. The accountant charged depreciation on land at 10% per annum. The company reported a profit of OMR 20,000 for the year 2019. What is the taxable amount after adjusting depreciation on land as per Oman Tax Law?
a.
OMR 24,000
b.
OMR 16,000
c.
OMR 12,000
d.
OMR 28,000
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