Explain briefly taxable profit and also the split rate system?

Define and explain the corporate income tax?

Who are the shareholders?

CR is resident in Country X. CR makes a taxable profit of R750,000 and pays an equity dividend of R350,000. CR pays tax on profits at a rate of 25%. Equity shareholders pay tax on heir dividend income at a rate of 30%. If CR and its equity shareholders pay a total of R205,000 tax between them, what method of corporate income tax is being used in Country X?

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Taxable Profit SplitRate System and Corporate Income Tax Taxable Profit This is the net income a com... View the full answer