MC B Sc in Accounting Auditing and Finance Taxation & Tax Rate Worksheet

I’m trying to learn for my Accounting class and I’m stuck. Can you help?

The teacher extended the word limit to 1700-1800.

1. TASK 1(a): Put the types of taxation in a table and explain more (additional 400-600 words).

2. TASK 1(b): Clearly explain the 3 purposes of taxation ( economic, social and environmental), how it can help to reduce the gap between the rich and poor and how it helps to protect the environment (you can see it from chapter 1)

3. TASK 3: Write it as a report advising Mr. Amur regarding the deductible and non-deductible expenses & the various incomes included in P&L A/C.

• From your position
• To Mr. Amur
• Date of when report was written
• Subject needed
• “Dear sir/Dear Mr. Amur, I’m explaining about the expenses which are deductible & non-deductible, which income is taxable, which income is not taxable as trading profit and how to treat the income”
• Explain the incomes; “these are the incomes the accountant already included in the profit and loss account, these incomes are not trading profit, therefore you need to deduct it from the NET profit”
• “These are expenses non-deductible but the accountant has already deducted, my advise is to add back”, “this expense you can deduct, don’t add back anything, leave it as it is” this type of wording
• Calculation of trading profit, deductible, non-deductible