A. Income Tax: Scheme of the Act
B. Income Tax on Resident Corporations (National Government)
1. Name of Tax and Levied in Terms of Which (Name, Number and Year)
2. Department Responsible for Administration
3. Definition and Classification
4. Basis of Taxation
4.1 Source-based or residence based
4.2 If source, define:
4.2.1 Actual source
4.2.2 Deemed source
4.3 If residence, define:
4.3.1 Define resident
4.3.2 Exclusions from the definition of resident:
4.3.3 Ceasing of residency provided for in the Act
5. Time Tax is Levied
6. 6 Included in Tax Base
7. Year of Assessment
8. Computation of Taxable Income
8.1 Exemptions
8.1.1 Partial exemptions (amounts exempt irrespective of the identity of the recipient):
8.1.2 Absolute exemptions (taxpayers enjoying completed exemption from tax on income):
8.2 Deductions and recoupments
8.2.1 Allowable deductions
8.2.2 Valuation of inventory/trading stock
8.2.3 Reserves and provisions
8.2.4 Non-deductible expenses
8.2.5 Recoupments
8.3 Depreciable regime
8.3.1 Tangibles (movable and immovable assets, for example plant and machinery)
8.3.2 Intangibles/incorporeals (for example, copyright, patents, goodwill and other intellectual rights)
8.4 Treatment of losses
9. Foreign Exchange Losses and Gains
10. Branch Profits Tax
11. Group Taxation/Consolidated Returns
12. Presumptive Tax Measures (for example, a Minimum Tax in the Form of a Gross Asset Tax)
13. Rates
14. Rebates
15. Withholding Taxes
16. Beneficiaries of Revenue