Sir on pg:100 Section 2.1 of OT notes
It's mentioned that dividends received from other companies are not taxable.
So does it imply that dividends received from a 51% control company is taxable?Is that dividend already included in Trading income,thereby requiring no adjustment..??
Ask the Tutor ACCA TX-UK
Dividends from 51% or more
NO - ALL dividend income is EXEMPT from Corporation Tax
The issue about dividends from related 51% group companies is to do with the calculation of "profits" to determine whether a company is large
Okay sir,
So what does augmented profit consist of..?
Total profits + Dividends from 51% group company am i right?
No!
If you look in the Study Notes for Chapter 16 or watch the lecture you will clearly see the definition of "profits" - it is also no longer called "augmented" profit - what study material are you using other than OT?
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