Contents - Tanzania Revenue Authority
Contents - Tanzania Revenue Authority
Contents - Tanzania Revenue Authority
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Running Costs:<br />
Salaries 840,000.00<br />
Electricity 240,000.00<br />
Water 40,000.00<br />
Rent of Business 720,000.00<br />
Local govt levy 60,000.00<br />
Educations levy 50,000.00<br />
Property depreciation 120,000 .00 2,075,000.00<br />
Net Profit 3,925,000.00<br />
Extra Information<br />
(i) Half of the levy income of the council comes from<br />
penalties which amount to TZS 30,000.00<br />
(ii) Madam Subira also paid some TZS 400,000.00 in four<br />
installments, as yearly initial tax.<br />
Calculation of tax that Madame Subira is supposed<br />
to pay in the year 2006 is as follows:-<br />
TZS<br />
(i) Net profit 3,925,000.00<br />
(ii) Add penalty by local government 30,000.00<br />
(iii) Profit liable for taxation 3,955,000.00<br />
Tax computation:<br />
(iv) Profit liable for taxation 3,955,000.00<br />
(v) Subtract (see tax band 3) 2,160,000.00<br />
1,795,000.00<br />
(vi) Multiply by 20%<br />
(vii) First part of tax 359,000.00<br />
(viii) Add (tax for tax band 3) 224,400.00<br />
(iX) Total tax of the year 581,400.00<br />
Subtract initially estimated tax 400,000.00<br />
Tax at the end of fiscal year 181,400.00<br />
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