23 - Corporate Taxation Flashcards
1
Q
TTP
A
Total Taxable Profits
the sum of a company’s profits and gains
2
Q
Proceeds from the sale of stock by a company: income receipt or capital receipt?
A
income receipt
3
Q
What kind of income received by a company do I assume is exempt from corporation tax?
What does this entail for my calculations?
A
Dividend income is EXEMPT from corporation tax.
It is NOT included in the company’s TTP.
