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Statutory Instrument 123 of 2020. S.I. 123 of 2020[CAP. 7:06High Court (Commercial Division) Rules, 2020 ARRANGEMENT OF SECTIONS PART Preliminary Section1. Title.2. Date of commencement and purpose.3.
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Gather all necessary financial data such as sales figures, expenses, and any other relevant information.
02
Calculate total sales revenue by adding up all sales figures for a specific period.
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Deduct any returns or discounts from the total sales revenue to get a net sales figure.
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List all expenses incurred during the same period, including costs of goods sold, operating expenses, and any other expenses.
05
Subtract total expenses from net sales revenue to calculate the estimated net income.

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Government agencies that require financial data for regulatory purposes.
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Estimates of revenue and are projections or predictions of how much money a business expects to earn in a certain period of time.
Businesses, corporations, and self-employed individuals are required to file estimates of revenue and if they have income that is not subject to withholding taxes.
Estimates of revenue and can be filled out by providing accurate and detailed information about the expected income, expenses, and deductions for the upcoming tax period.
The purpose of estimates of revenue and is to help taxpayers avoid underpaying taxes throughout the year, which can result in penalties and interest charges.
On estimates of revenue and, taxpayers must report their expected income, deductions, and credits for the upcoming tax period.
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