Expenditure is deducted in the computation of income tax if it has been incurred in the production of income or for the purposes of trade. Expenditure on acquisition or construction …
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VAT Apportionment rules
Posted by: Tax Matrix Team
Input tax is tax incurred by a VAT registered operator on goods or services acquired for use, consumption or supply in the production of taxable supplies including that incurred on …
Landlords and tenants must watch out income tax issues of lease improvements
Posted by: Tax Matrix Team
A leasehold improvement is expenditure which adds something new to the leased property and which should ordinarily be treated as capital expenditure. Because the land or building on which they …