Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please i need new and unique answers , please don't copy and paste . please, don't use handwriting use your keyboard .. Thank you ACCT

please i need new and unique answers , please don't copy and paste .

please, don't use handwriting use your keyboard .. Thank you

ACCT 422

Question 1: List the primary sources of income that are considered accrued in the Kingdom according to Article (5) of the income tax law. (4 Marks)

Question 2: Discuss the concept of residency in the Saudi Income Tax Law according to article 3. (4 Marks)

Question 3: Using your own words, define Cash-Basis Accounting and Accrual-Basis Accounting under Saudi tax regulations. (4 Marks)

Question 4: A resident capital company has both Saudi and non-Saudi shareholders and its capital is divided between them equally. Net income for 2019 was 3,200,000 SR and was adjusted according to the tax rules applicable in the kingdom to 3,600,000 SR. (3 Marks)

Required:

  1. Compute the tax amount to be paid by the company.
  2. Compute the tax amount to be paid by non-Saudi shareholders assuming that dividends paid in cash of 800,000 SR.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Of The Safety Of Electrical Installations

Authors: Papa Samba Agne

1st Edition

6205799308, 978-6205799307

More Books

Students also viewed these Accounting questions

Question

Identify five strategies to prevent workplace bullying.

Answered: 1 week ago