ICANTaxationCompanies Income Tax: Adjusted Profit2023

Donations made by a company are allowable for tax purposes only if made to:

AAny registered charity of the directors' choosing
BA body listed in the Fifth Schedule to CITA, subject to a limit of 10% of total profits before the donationCORRECT
CAny organisation, without limit
DForeign relief organisations only
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
CITA allows donations only to bodies listed in the Fifth Schedule, and caps the deduction at 10% of total profits before deducting the donation. Donations of a capital nature are not allowable at all.
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