A tax computation is a statement showing the tax adjustments to the accounting profit
to arrive at the income that is chargeable to tax. To determine the amount of tax
chargeable, certain deductions are taken from gross income to arrive at the taxable
income. Once the amount of taxable income has been determined, tax rate charts
determine the exact amount of tax chargeable. A company's chargeable income is
usually different from the net profit/loss shown in its accounting books. This is because
some of the company's expenses may not be deductible for tax purposes. Similarly,
some of the income received by a company may not be taxable. Different methods apply
to computation of chargeable tax for a company. This paper highlights the necessary
adjustment on company’s income and also the applicable basis for computation of
company’s income tax as provided for by the Companies Incomes Tax Act.
Adepegba, O. (2018). COMPUTATION OF CHARGEABLE TAX UNDER NIGERIAN COMPANIES INCOME TAX. Afribary. Retrieved from https://track.afribary.com/works/computation-of-chargeable-tax-under-nigerian-companies-income-tax
Adepegba, Olusola "COMPUTATION OF CHARGEABLE TAX UNDER NIGERIAN COMPANIES INCOME TAX" Afribary. Afribary, 28 Mar. 2018, https://track.afribary.com/works/computation-of-chargeable-tax-under-nigerian-companies-income-tax. Accessed 26 Dec. 2024.
Adepegba, Olusola . "COMPUTATION OF CHARGEABLE TAX UNDER NIGERIAN COMPANIES INCOME TAX". Afribary, Afribary, 28 Mar. 2018. Web. 26 Dec. 2024. < https://track.afribary.com/works/computation-of-chargeable-tax-under-nigerian-companies-income-tax >.
Adepegba, Olusola . "COMPUTATION OF CHARGEABLE TAX UNDER NIGERIAN COMPANIES INCOME TAX" Afribary (2018). Accessed December 26, 2024. https://track.afribary.com/works/computation-of-chargeable-tax-under-nigerian-companies-income-tax