Accountancy and Finance/Continuing Professional Development (CPD)/In-depth Analysis of Profits Tax Treatment on Interest Income and Interest Expense

In-depth Analysis of Profits Tax Treatment on Interest Income and Interest Expense 

Taxation of interest income and deduction of interest expense are two important issues in the daily operations of a business. If the interest income is handled properly, profits  tax on such income may be avoided. Interest expense is generally a significant  outflow of cash to a company. If the treatment of interest is not handled properly, the  interest may not be deductible from assessable profits. This creates a burden of cash  flow on payment of profits tax to the management. 

This seminar will review the laws under IRO governing the chargeability of interest  income received by different types of business and the deduction of interest expenses  paid by different types of business to different types of recipients. The seminar  provides easy understanding diagrams and concept maps on how to handle interest  income and interest expenses.  

Areas to be covered in this seminar: 

1. the rules governing the chargeability of interest income received by different  recipients under ss.14 and 15(1); 

2. the rules governing the deduction of interest expense paid by different types of  businesses under ss.16(1), (2), (2A), (2B), (2C), (2CA), (2CC) and 17(1)(c).. 

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