1] Given an individual with a monthly turnover of TZS 1,000,000, calculate the annual amount of presumptive tax if the person: Complies with section
1] Given an individual with a monthly turnover of TZS 1,000,000, calculate the annual amount of presumptive tax if the person: Complies with section 35 of Tax Administration Act (2015). i] ii] Does not comply with section 35 of Tax Administration Act (2015). 2] Comment on the difference [if any] on the tax amounts computed in [i] and [ii] above. 3] Assume that the individual in [1] above has computed her taxable profit and it is TZS 2,400,000 for the year [200,000 per month]. Calculate her income tax for year Discussion: Would you prefer to be taxed on presumptive basis or rather compute profits and apply the conventional rates?
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1 i To calculate the annual amount of presumptive tax if the individual complies with section 35 of the Tax Administration Act 2015 Annual turnover Mo...See step-by-step solutions with expert insights and AI powered tools for academic success
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