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Taddeo Ltd is a resident manufacturing business in Nairobi, Kenya. The following are extracts from its financial statements for the year of income ending 31 December 2020.

Kshs 000 Profit for the year ........................................ 35,783,000

Expenses deducted before arriving at the profit for the year

Depreciation ..................................................4,567,800 Directors remuneration.....................................675,000 Salaries and wages ...........................................897,540 General expenses..............................................568,000 Auditors fees....................................................456,000 Reserves .......................................................2,135,000 Bad debts reserve .............................................890,000 Taxes ...............................................................132,890 Interest on loan ................................................975,870 Manufacturing expenses.................................8,965,000 Supplies used ................................................1,215,600 Commissions paid .............................................375,000 Provisions for dividends..................................1,230,000 Fire insurance............................................. 178,090

23,261,790

Additional information

a) Profit on sale of shares ex-dividend included as income 1,240,000,000

b) Bad debts (specific) are Kshs 670,000,000

c) Taxes represent VAT paid

d) General expenses include donations of Kshs 200,000,000

e) At the beginning of the year 2020, company had estimated it tax liability at Kshs 2,000,000

f) The company owned the following fixed assets acquired during the years indicated:-

Kshs 000" year

Manufacturing building 1 ........................ 30,000,000............. 2019 Manufacturing plant 1 ............................ 17,800,000............. 2019 Manufacturing building 2 ........................ 40,000,000............. 2020 Manufacturing plant 2 ............................ 23,000,000............. 2020 Motor vehicle [commercial].......................4,500,000............. 2020 Computers and accessories.......................2,050,000............. 2019 Furniture and fittings................................3,042,800............. 2019

Required

i) The capital allowances claimable by the company for the years 2020

ii) The adjusted taxable income/loss for the year of income

iii) The tax payable (if any)

iv) The date(s) when tax was payable by the company and the relevant amounts

v) Ways the company could have improved its tax position [ any 3 ways]