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Tutorial (1) Introduction To Tax Accounting: Accounting and Financial Control Department Taxation S 2019

The document provides three tax accounting problems involving individuals and businesses. Problem 1 involves calculating tax due for an employee with an annual salary of L.E. 60,000. Problem 2 involves calculating tax due for a grocery store owner with annual income of L.E. 260,000 after any store income discounts. Problem 3 involves calculating the tax base, tax due after discount, and tax payable for an individual with various income sources totaling L.E. 24,000 for the year and advanced tax payments of L.E. 200.

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31 views

Tutorial (1) Introduction To Tax Accounting: Accounting and Financial Control Department Taxation S 2019

The document provides three tax accounting problems involving individuals and businesses. Problem 1 involves calculating tax due for an employee with an annual salary of L.E. 60,000. Problem 2 involves calculating tax due for a grocery store owner with annual income of L.E. 260,000 after any store income discounts. Problem 3 involves calculating the tax base, tax due after discount, and tax payable for an individual with various income sources totaling L.E. 24,000 for the year and advanced tax payments of L.E. 200.

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aly
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© © All Rights Reserved
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Download as PDF, TXT or read online on Scribd
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Accounting and Financial Control Department Taxation

S 2019

Tutorial (1)
Introduction to Tax Accounting

Problem (1): Sarah Amin works as an employee in the public sector. She
receives L.E. 60,000 annually as her salary.

Required:
1. Identify the taxpayer.

2. Identify the tax base.

3. Calculate the tax due.

Problem (2): Adham owns his own grocery store and has an annual income of
L.E 260,000. Calculate the tax due after discount on the store income.

Problem (3):
Deena has collected the following revenues at the end of 2018 knowing that
there were advanced tax payments for L.E 200 and basic real estate taxes
for L.E 500 made to the tax department:
a) Salaries and the Like L.E. 2000/month
b) Commercial professions L.E. 15,000
c) Revenues from real estate. L.E. 5,000
Calculate the tax base, the tax due after discount and the tax payable that
Deena should pay at the end of 2018.

True or False:
1. In-direct taxes are imposed directly on incomes upon their acquisition.
2. A Tax is a compulsory payment to support the cost of government.
3. The main form of indirect taxes is Individuals Income Tax.
4. Tax Rate, is the sum which the taxpayer is required to pay.
5. Progressive rate is a single percentage that applies to the entire tax
base.
6. Sources of income Tax of Natural Persons are Salaries and the like,
revenues of Non Commercial Profession, revenues of Commercial and
Industrial firms.
7. Moral Persons are Partnerships and corporations.
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