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Tax Deductible

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Tax Deductible

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • May 31, 2021 at 5:19 pm #622476
    HamzaYusuf
    • Topics: 38
    • Replies: 19
    • ☆☆

    What does tax allowable & tax-deductible mean?

    Is debt interest payment tax deductible?

    June 1, 2021 at 7:45 am #622553
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49603
    • ☆☆☆☆☆

    Tax allowable and tax-deductible mean the same thing – that the item can be subtracted in arriving at the taxable profits.

    Debt interest is tax allowable. I do suggest that you watch my lectures because the fact that interest is tax allowable is fundamental to so many of the exercises in Paper FM (such as cost of capital calculations; Modigliani and Miller; use of the CAPM asset beta formula; etc..)

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