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Question 3 [21 Aarks? Kaisasi Cc carries on a manufacturing business. In support of its return to income for its financial year ended 28
Question 3 [21 Aarks? Kaisasi Cc carries on a manufacturing business. In support of its return to income for its financial year ended 28 February 2020, the company submits the following Information Sales Net profit from Angola branch Profit on sale of computer Proceeds of policy on life of director Office salaries Loss on sale of car Legal expenses Insurance General expenses Export marketing expenses Dividends from Malawian companies Depreciation on office building Depreciation on Cars Cost of manufacturing Compensation paid Annunities to retired employees 433115 1,490,880.00 80,000.00 1,700.00 125,000.00 310,000.00 16,200.00 2,000.00 13,850.00 24,265.00 40,000.00 4,000.00 15,000.00 2,200.00 640,000.00 3,500.00 6,300.00 REQUIRED Calculate the TAX PAYABLE by the company in respect of the 2020 year of assessment. (21 Marks)
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