CTFA Annual Report 2019

NOTES TO THE FINANCIAL STATEMENTS 18. Income taxation expense No provision has been made for the 2019 year. The association is exempt from tax on the types of income generated during the year due to its status as a Voluntary Association incorporated under Common Law and its tax exemption in terms of Section 30 of the Income Tax Act. FIGURES IN R COSMETIC TOILETRY AND FRAGRANCE ASSOCIATION OF SOUTH AFRICA 44