The foreign income is not the same on the schedule and tax computation

Article ID

ias-12099

Article Name

Created Date

13th October 2015

Product

IRIS Personal Tax

Problem

The foreign income appears correctly on the schedules of data but a different amount is shown on the tax computation.

Resolution

The schedules of data will show what has been input on the data entry screen. The tax computation will round any foreign dividend income up at a rate of 100/90 and this is why the figure on the tax computation will be higher than the amount shown on the schedules of data. Please see KB Item 7927 for more information on why the income has been grossed up

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