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- 10. ABC Company is an operator of service equipments for overseas communications / calls. During the 3rd quarter of the year 2018, SAN JOSE, an international news services agency, made calls originating from Philippines to CANADA and paid to ABC the total gross payment for sale of services amounting to P 110,000, inclusive of all charges and taxes, if any. How much will be paid by ABC as percentage tax due for the 3rd quarter?ABC corporation provided the following data for calendar year ending December 31, 2021 ($1 = P50). Use new tax rate under CREATE Law (RA 11534) Philippines: Gross Income - P4,000,000 Deductions - P2,500,000 Abroad: Gross income - $40,000 Deductions - $15,000 Income tax paid - $3,000 g. If it is a resident international carrier, compute for its income tax. h. If it is a non-resident cinematographic film owner/lessor, compute for its income tax. i. if it is a non- resident lessor of vessels, compute for its income tax.13-An Omani establishment has drawn an invoice of RO 5,400 on account of a foreign sub-contractor. The amount payable to a foreign sub-contractor is RO 5,400. The WHT (Withholding Tax) is Payable @ 10%. Which one of the following is WHT as per Oman tax laws? a. RO 6,600 O b. None of the options O c. RO 6,000 O d. RO 600
- Title: Digital Services Tax (DST) of six per cent on 1 January 2020 on Malaysia's foreign digital service providers (FSPs). Please use own sentences don't goggleable - introductionANSWER REQUIREMENT 2 A company registered for Value Added Tax (VAT) in the United Kingdom. The following information is available in respect for the quarter ended 31 March 2021: 1. Invoices were issued for sales to VAT registered customers of £16,200 in respect of exempt sales, £5,650 in respect of reduced rate sales and £205,250 in respect of standard rated sales. The reduced rate and standard rated sales figures are exclusive of VAT. 2. Invoices were issued for sales to Non-VAT registered customers of £32,350 in respect of exempt sales and £25,670 in respect of standard rated sales. The standard rated sales figure is inclusive of VAT. 3. On 25 March 2021 the company has received a deposit for standard rated services to be supplied to a VAT registered customer on 31 March 2021. The customer paid the balancing payment on 31 March 2019. The company issued an invoice on 2 April 2021. 4. The sales manager of the company is provided with free fuel for both business and private mileage…The government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.
- Q2 (a) On 7 June 2022, Yuna Sdn Bhd (Yuna), a Malaysian tax resident company, registered for sales tax and imported taxable goods equivalent to RM400,000 for its business from a supplier in Thailand. The goods imported were subject to import duty of 10% and sales tax of 10% On 14 August 2022, Yuna issued an invoice for RM180,000 for the supply of manufactured goods (jackfruit juices) to Jojo Supermarket Sdn Bhd received the full payment on 6 November 2022. The sales tax rate on jackfruit juices is 5% Required: (i) Calculate sales tax payable for Yuna Sdn Bhd on the goods imported. (ii) Briefly explain how it would be different from (a) (i) if Yuna Sdn Bhd was not registered for sales tax purposes. (iii) Calculate the Yuna Sdn Bhd sales tax payable and the total invoice amount on the sale of goods. (iv) State in which taxable period the sale by Yuna Sdn Bhd should be accounted for, and state the due date to remit the sales tax to the Royal Malaysian Customs Dept.Taxpayer Q has net taxable income of $30,000 from Country Y which imposes a 40 percent income tax. In addition to the income from Country Y, taxpayer Q has net taxable income from US sources of $120,000, and US tax liability, before the foreign tax credit, of $30,290. What is the amount of Q's foreign tax credit? a.$30,290 b.$12,000 c.$6,058 d.$8,350 e.None of these choices are correct.A VAT taxpayer purchased goods for P900,000 and paid input VAT of P108,000 for the same. He sold the goods directly to a non-resident customer in Indonesia for a total of P1,200,000 equivalent. How much is the excess input VAT? A. 108,000 B. zero
- Question 12, P1-6 (book/static) Part 1 of 3 Corporate taxes Southern Textile Ltd. is a manufacturer of sportswear that supplies to a number of European retail stores. Its registered office is in Singapore. During 2017, the firm earned SGD 112,000 before taxes. Singapore's corporate tax rate is 20%. Firms are eligible for a tax rebate of 50% of the tax amount, capped to a maximum amount of SGD 10,000 every year on their tax liability. a. Calculate the firm's tax liability using Singapore's corporate tax rates. b. How much are Southern Textile's 2017 after tax earnings? c. Calculate the firm's average tax rate. a. The firm's tax liability using Singapore's corporate tax rates is SGD (Round to the nearest dollar.)ABC corporation provided the following data for calendar year ending December 31, 2021 ($1 = P50). Use new tax rate under CREATE Law (RA 11534) Philippines: Gross Income - P4,000,000 Deductions - P2,500,000 Abroad: Gross income - $40,000 Deductions - $15,000 Income tax paid - $3,000 j. if it is a non-resident lessor of aircraft, machineries and equipment, compute for its income tax.14-An Omani company has drawn an invoice of RO 10,000 on account of a foreign sub-contractor. The WHT (Withholding Tax) is payable @ 10%. How much the Omani company payable to foreign sub- contractor as per Oman tax laws? O a. RO 9,000 b. None of the options O c. RO 10,000 O d. RO 11,000