ICANTaxationCompanies Income Tax: Computation and Losses2024

Tertiary education tax is charged on:

AGross turnover of the company
BAssessable profit of the companyCORRECT
CTotal profit of the company
DDistributable profit of the company
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
Tertiary education tax is imposed on the assessable profit of companies registered in Nigeria, and is itself an allowable deduction in arriving at total profit for companies income tax purposes.
Want this in Pidgin, Yoruba, Igbo or Hausa? Sign up free →

Practice more Taxation questions

ICAN Taxation has thousands more questions like this — with Worked answers on every one.

Start practicing free →See all Taxation questions