Explain the term "set-off tax" as used in taxation

Explain the term "set-off tax" as used in taxation

Answers

Set-off tax means a tax that can be deducted from a gross tax liability when computing the tax payable. Usually these are the taxes deducted at source e.g the withholding taxes, P.A.Y.E etc

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Wilfykil answered the question on February 13, 2019 at 08:07

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