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Q. What is Alternative Minimum Tax?
Alternative Minimum Tax (AMT) - Tax imposed to back up the regular income tax imposed onCORPORATION and individuals to guarantee that taxpayers with economically measured incomeexceeding certain thresholds pay at least some income tax.
mention the advantages and disadvantages of the traditional approach
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The following are extracts of the Income Statement and Balance Sheet for Umar plc. Extract Balance Sheet at 30 June 20X2 20X1 £'000 £'000 £
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