Tax Memo

 SECTION 4   Capital expenditure 

Why distinguish? 
Rattachements 53 CTA 2009;
s 33 ITTOIA 2005;

 Taxable business profits are computed solely by reference to revenue items. No deduction is allowed for capital expenditure, unless the cash basis is being used (ΒΆ21010). It is therefore essential to identify whether receipts and expen...

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