TAX 2.1 CITA (BRIEF HISTORY)
HISTORICAL BACKGROUND OF THE CITA. The war had far reaching effects on the number of viable companies left. Thus, the first CITA (of 1939) died prematurely. Before the CIT 1939, companies’ income was taxed under the Personal Income tax ordinance. Then came the 1961 Companies Income Tax Act. After undergoing several amendments, the Principal act […]