问答题

问答题 (a) Compute the taxable income of Revolution Ltd for the tax year 2010, giving brief explanations of your treatment of the items excluded from taxable income. (24 marks)

问答题 (b) Compute the total tax payable by Revolution Ltd, including under the final tax regime, assuming that neither the workers’ welfare fund nor quarterly advance income tax was payable by the company. (4 marks)

问答题 (c) State, giving reasons, at what rate Revolution Ltd should have deducted tax on the payment made to the contractor on account of his supply of chemicals (not being pharmaceuticals) for its laboratory. (2 marks)