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tramont

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › tramont

  • This topic has 0 replies, 1 voice, and was last updated 7 years ago by Avatarutmanz.
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  • November 18, 2018 at 11:53 pm #485166
    Avatarutmanz
    Participant
    • Topics: 3
    • Replies: 6
    • ☆

    The annual corporation tax rate in Gamala is 20% and Tramont Co currently pays corporation tax at a rate of 30%
    per year. Both countries’ corporation taxes are payable in the year that the tax liability arises. A bi-lateral tax treaty
    exists between the US and Gamala, which permits offset of overseas tax against any US tax liability on overseas
    earnings. The US and Gamalan tax authorities allow losses to be carried forward and written off against future profit for taxation purpose.

    hey mike, would you please why tramont co does not pay extra 10% tax on remitted cashflows,
    I am confusing about this, rest of question is easy
    plz reply

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