Set-off Tax-Section 39ITA
Tax rebate ( Set-off tax) for apprenticeships
Any employer who engages at least 10 university graduates as apprentices for a period of 6 to 12 months during any year of income shall be eligible for tax rebate in the year subsequent to the year of such engagement.
Contracts must be registered with NITA.
Tax rebate ( Set-off tax)
The following shall be set off for the purposes of collection against the tax charged on that person for the year of income in respect of which it was deducted.
An amount of tax which:
- has been deducted on
- Farmers in relation to stock(Non-Individuals). s.17
- Management fees, etc from non-citizens. s.35
- Annuities etc, paid under a will etc. s.36
- Emoluments to an employee s37
- has been borne by a trustee, etc as income to a beneficiary.
- Is an advance tax on commercial vehicles. s12A
Tax paid in another country on acts of entertaining, instructing, sporting, by a citizen will be set-off too.
Comments