1. Shareholders’ Expenditure:
   • The expenditure incurred for the Annual General Meeting (AGM) is allowable for tax purposes as it is related to the operational activities of the company. The AGM is considered a necessary business expense.
   • The amounts spent on scholarships for shareholders’ children are not allowable for tax purposes. These expenses will be treated as deemed dividends, and a withholding tax at the rate of 8% will be imposed on these amounts. Such scholarships confer private benefits to shareholders and are thus disallowed as business expenses.
2. Executive Directors’ Expenditure:
   • The expenditure on security arrangements for the private residence of the Managing Director in 2020 is considered domestic expenditure and is not allowable for tax purposes. The Managing Director must treat this as a personal benefit, which is taxable under employment income.
   • The recreational facilities built at the Deputy Managing Director’s private home in 2021 are also domestic in nature and are therefore disallowed for tax purposes. The Deputy Managing Director may be required to treat this benefit as part of his taxable income.
3. Non-Executive Directors’ Expenditure:
   • The amounts spent on providing employable skills for non-executive directors on the international arena when they exit their roles are also domestic expenditure and are disallowed for tax purposes. These expenditures are not directly related to the business operations of the company.

In summary, most of the expenditures are considered non-allowable for tax purposes, with the exception of the AGM expenses. Any expenses that confer private benefits to individuals, such as scholarships, security, or recreational facilities, are either disallowed or treated as employment income and subject to tax.