5. Mr. B plays national lottery each month. He won the biggest prize 2.000.000 TRY on 9 January 2021. Note: The exclusion amount the gift tax and tax schedule for the year 2021 are in the Slides. Required: Is the prize of Mr. B subject to gift tax? If so, calculate the tax base and the tax payable. Who is going to pay the tax? (10 points). Tax Rate For Wages and Salaries in 2021 Tax bases and tax rates for wages and salaries stated in Article 103 of the PITL are as follows: Up to 24,000 TRY 3,600 TRY for 24,000 TRY of 53,000 TRY, for more 9.400 TRY for 53,000 TRY of 190,000 TRY, for more 46.390 TRY for 190,000 TRY of 650,000 TRY, for more 15% 20% 27% 35% 207.390 TRY for 650,000 TRY of more than 650,000 TRY for more 40% Tax Rate for other than wages and salaries in 2021 wwwwww Tax bases and tax rates for other than wages and salaries stated in Article 103 of the PITL are as follows: Up to 24,000 TRY 3.600 TRY for 24,000 TRY of 53.000 TRY, for more 9.400 TRY for 53.000 TRY of 130.000 TRY, for more 15% 20% 27% 30.190 TRY for 130.000 TRY of 650,000 TRY, for more 212.190 TRY for 650,000 TRY of more than 650,000 TRY, 35% for more 40% Tax Base 2021 Tax Rate 0-380.000 TRY 10% For the next 900.000 TRY 15% For the next 1.900.000 TRY 20%* For the next 3.600.000 TRY 25% Any amount above 6.780.000 TRY 30% Prizes from Lottery 20% Tax rates for gift tax vary depending on the level of tax base for 2021. If the properties are transferred between family members (including ascendants and descendants), the rates are applied in half. Gift tax is paid in 2 installments each year and in total within 3 years May and November of each year is the routine collection time for installments Prizes from lottery has to paid until 20 th day of following month