Question
If a taxpayer changes its taxable year, the interval between the last full taxable year prior to the change and the starting date of the
If a taxpayer changes its taxable year, the interval between the last full taxable year prior to the change and the starting date of the new taxable year shall be considered as a short independent fiscal period.
The first year of a new taxpayer or the last year of a taxpayer in case of discontinuation or liquidation, may be a short independent fiscal year. Why? Explain with example. (3 Marks)
For every kind of money or activity there is a rule for calculating alms which are due on it. Some are calculated in relation to the total amount and others are calculated in relation to the net amount. Give two examples for each where alms are calculated on total amounts and where alms on calculated on net amounts. (2 Marks)
Receptacle of Alms money calculated by subtracting liabilities which are due to be paid at that moment from alms assets. Assets which meet the conditions of obligatory alms are called Alms Assets. State the conditions of obligatory alms. (3 Marks)
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