ICANTaxationCompanies Income Tax: Computation and Losses2025

Franked investment income is:

ADividend income received from a Nigerian company on which withholding tax has been deductedCORRECT
BInterest received from a foreign bank
CRental income on which withholding tax has been suffered
DProfit on disposal of shares
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Why the answer is A, and why the others tempt you.
Dividend received from a Nigerian company, having already suffered withholding tax as a final tax, is franked investment income. It is excluded from total profits and from the turnover base for minimum tax.
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