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