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Questions and Answers
What is the primary condition for a person to be eligible for capital allowance?
What is the primary condition for a person to be eligible for capital allowance?
- The person has a minimum turnover
- The person is a resident of the country
- The person is carrying on a business (correct)
- The person has a registered business name
What is the purpose of capital allowance?
What is the purpose of capital allowance?
- To punish non-compliant businesses
- To regulate business activities
- To impose additional taxes on businesses
- To provide concessions to businesses (correct)
What is the nature of capital allowance?
What is the nature of capital allowance?
- A concession given by the government (correct)
- A penalty for non-compliance
- A voluntary business decision
- A mandatory taxation requirement
Who benefits from capital allowance?
Who benefits from capital allowance?
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What is the underlying principle of capital allowance?
What is the underlying principle of capital allowance?
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What is the relationship between capital allowance and business?
What is the relationship between capital allowance and business?
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What is the main requirement for a person to be eligible for capital allowance?
What is the main requirement for a person to be eligible for capital allowance?
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What is the nature of the deductions provided by capital allowance?
What is the nature of the deductions provided by capital allowance?
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What is the significance of capital allowance in the context of taxation?
What is the significance of capital allowance in the context of taxation?
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Why are capital allowances granted to businesses?
Why are capital allowances granted to businesses?
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