- 6 Marks
AT – April 2022 – L3 – Q2c – Tax planning | Business income – Corporate income tax
Explain tax incentives for farming, agro-processing, and rental income from cocoa farming activities.
Question
Tax incentives have traditionally been used by governments as tools to promote a particular economic goal. They are preferential tax treatments offered to a selected group of taxpayers and may take the form of tax exemptions, tax holidays, preferential tax rates, and others.
Required:
Explain the tax implications of the following:
i) A person engaged in Farming activity
ii) A person engaged in Agro-Processing activity
iii) The rental income of a person engaged in Cocoa Farming activity
Find Related Questions by Tags, levels, etc.
- Tags: Agro Processing, Cocoa Farming, Corporate Tax, Farming, Rental Income
- Level: Level 3
- Topic: Business income - Corporate income tax, Tax planning
- Series: APR 2022
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