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SRU Company is preparing its accounts for the year ended on 31st December, 2013. It has income from various sources and made some payments as

SRU Company is preparing its accounts for the year ended on 31st December, 2013. It has income from various sources and made some payments as shown below:

Items

Amount ()

Rent revenue from a building located in Muscat

15,000

Dividends from a Germany company (non-associated companies)

19,500

Income from operations

350,000

Gain on the sale of a warehouse

10,000

Bank Deposit Interest

1,500

Dividends from a UK co. (non-associated companies)

4,500

Loan note interest from a UK co.

17,000

Gift Aid Donation

6,000

Dividends paid to shareholders (dividends payment is excluded from TTP)

7,000

Instruction:

Calculate the total taxable income for the company and tax liability.

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