Financial Management

Tax can be defined as _______________________________

In South Africa various taxes and levies are enforced by ________________________________________________.

3. Choose whether the following statement is true/false.

Levies are actions that make the IRS is empowered to use in taking your stuff when you owe them unpaid taxes.

• TRUE

• FALSE

At what rate of Corporate Income Tax (CIT) for 2015/2016 has been set to?

• 19%

• 10%

• 28%

• 15%

SDL is a tax imposed on companies resident in the Republic of South Africa i.e. incorporated under the laws of, or which are effectively managed in, the Republic, and which derive income from within or outside the Republic.

• True

• false