Some people argue that APS is just a way for the government to pocket the revenue as
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Question:
Some people argue that APS is just a way for the government to pocket the revenue as soon as possible.
(a) Explain what is APS and what is its importance.
(b) Company C has a year-end of 31 Dec. For the year ended 31 Dec 2020, it had a net profit of USD 8,000,000. While the chargeable income for USD 5,000,000.00 During the year 2020, the company file the following APS Details 1st quarter 2nd quarter 3rd quarter Amount (USD) 250,000.00 250,000.00 250,000.00 750,000.00 The net profit for the year 31 Dec 2019 is USD 20,000,000.00 and the chargeable income is USD 6,666,666.67.
REQUIRED
Calculate the total amount payable under the corporate tax for the year ended 31 Dec 2019.
Expert Answer:
aThe Accelerated Payment Scheme APS is a system set up by the UK government to a... View the full answer
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