In today’s inflationary times, the cost of doing business is escalating at an
alarming rate. Amongst other things, tax payers including businesses have to
manage their cash and assets reserves in an optimum and efficient manner in
order to carry on business. All the efforts may come to naught if the business has
not been fulfilling its obligation as a taxpayer diligently and carefully. In some
instances, as a result of tax audits or investigations carried out the inland revenue
board, the additional tax and penalties that are imposed on the businesses leave
them facing a great dilemma as there may be insufficient funds available to settle
the tax liabilities. Tax payers should also look at mitigating their tax liabilities
based on legal means that are missed out due to either lack of sufficient
information or sheer ignorance. Suffice to say that knowledge gained at this course
may be converted to real savings by tax payers. This course provides to taxpayers,
a step by step guide and explanations on how to fill and file the form B.
Explanations and examples on the relevant tax computations are given and even
though with title tax knowledge will find them helpful and easy to understand. In
particular, it helps the taxpayers minimize their income tax payable in relation to
business, employment and investment incomes.

By the end of the program, attendees will be able to:

  • Outline the various taxes imposed by the inland revenue board
  • Discuss the scope of charge for individuals and determine the resident status for individuals
  • Understand the significant of the resident status for purposes of computing income tax payable
  • Determine the basis period of a business source of an individual
  • Apply the appropriate deductions against gross employment income to arrive at statutory income from employment
  • Determine the basis period when the sources of income are taxable
  • Identify business income available in business environment
  • Compute chargeable income for a given year of assessment
  • Identify various types of business deductions available to business
  • Understand the difference between capital expenditure and revenue expenditure
  • Advise types of capital allowances to business
  • Formulate tax planning strategies for businesses carrying a taxation

Interested? Call us at 03-56222003 or 017-8562228 to register.