The basis of assessment for companies income tax is generally the:
AActual year basis
BPreceding year basisCORRECT
CCalendar year basis
DCash receipts basis
ICANTaxationNigerian Tax System and Administration2021
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Why the answer is B, and why the others tempt you.
Companies are assessed on the profits of the accounting period ending in the year preceding the year of assessment. Special rules apply on commencement, change of accounting date and cessation.
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