Minimum Tax calculation
Minimum tax refers to a tax provision that ensures taxpayers with high incomes or substantial deductions pay a minimum amount of tax, regardless of their available deductions and credits. It is designed to prevent high-income individuals or corporations from using various tax strategies and loopholes to reduce their tax liability significantly or avoid paying taxes altogether.
The concept of minimum tax aims to establish a baseline level of tax liability, ensuring that taxpayers contribute a fair share to government revenue. The specific rules and regulations surrounding minimum tax can vary between countries and jurisdictions.
Wimax Company limited
Minimum Tax calculation…
Year-2022 Year-2021
Tax on export proceeds (SIBL) xxxx xxxx
Tax on export proceeds (SJIBL xxxx xxxx
Total current tax paid xxxx xxxx