Capital allowances claimable by a company other than one in manufacturing or agricultural trade are restricted to:
A50% of assessable profit
B66⅔% of assessable profitCORRECT
C75% of assessable profit
D100% of assessable profit
ICANTaxationCapital Allowances2023
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Why the answer is B, and why the others tempt you.
CITA restricts capital allowances for such companies to two-thirds of assessable profit, with the unrelieved balance carried forward. Companies in manufacturing and agricultural production are exempt from this restriction.
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