Al Mazoon LLC has earned the income of RO 46300 in the tax year 2019. In the year 2013 and 2015 company has made the loss of RO2600 and RO 3500 which the company has claimed to be set-off form the income of 2019. Requirement: Is company allowed to be carried forward and set-off of losses of 2013 and 2015. Also calculate the tax liability for the company

Al Mazoon LLC has earned the income of RO 46300 in the tax year 2019. In the year 2013 and 2015 company has made the loss of RO2600 and RO 3500 which the company has claimed to be set-off form the income of 2019. Requirement: Is company allowed to be carried forward and set-off of losses of 2013 and 2015. Also calculate the tax liability for the company

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter11: The Corporate Income Tax

Section: Chapter Questions

Problem 2P

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