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  • COYTAXEDUTAX

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    Fadekemi Kotun
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    This document is a 2010 year-end tax assessment for a company. It shows the company had a profit of ₦613,960,531.35 for the year. It calculates the assessable profit, capital allowance carried forward and back, taxable income, income tax owed at 30% of taxable income, education tax owed at 2% of assessable profit, and the tax payable after deducting withholding tax paid. The overall tax payable is ₦51,130,590.23.

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    This document is a 2010 year-end tax assessment for a company. It shows the company had a profit of ₦613,960,531.35 for the year. It calculates the assessable profit, capital allowance carried forward and back, taxable income, income tax owed at 30% of taxable income, education tax owed at 2% of assessable profit, and the tax payable after deducting withholding tax paid. The overall tax payable is ₦51,130,590.23.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    4 views2 pages

    COYTAXEDUTAX

    Uploaded by

    Fadekemi Kotun
    This document is a 2010 year-end tax assessment for a company. It shows the company had a profit of ₦613,960,531.35 for the year. It calculates the assessable profit, capital allowance carried forward and back, taxable income, income tax owed at 30% of taxable income, education tax owed at 2% of assessable profit, and the tax payable after deducting withholding tax paid. The overall tax payable is ₦51,130,590.23.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    2010 Year of Assessment

    ₦
    Profit for the Year
    Add:
    Depreciation 15,329,891.91
    Tax Expense 9,689,932.20
    25,019,824.11
    Assessable Profit
    Capital allowance B/F 18,923,941.85

    Capital Allowance for the Year 65,272,524.40


    84,196,466.25
    Relieved in the Year (66.67% of Assess. Profit) - 84,196,466.24
    Capital allowance C/F 0.01

    Taxable Income

    Tax @ 30%

    Less WHT Paid


    TAX PAYABLE

    Education Tax @ 2% Assessable Profit


    COMPUTATION OF COMPANY INCOME TAX AND EDUCATION TAX

    ₦
    613,960,531.35

    25,019,824.11
    638,980,355.46

    - 84,196,466.24

    554,783,889.22

    166,435,166.77

    - 115,304,576.54
    51,130,590.23

    12,779,607.11

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