Question 2: (10 Marks) As a tax consultant, check whether the following independent cases are according to the Omani Tax Law or not. If not, state the a) correct regulation and calculations (if needed) and b) legal consequences of not following the regulations (if any). 1.Company AB commenced its business operations on January 1, 2019 and registered at the Tax Institution on April 1, 2019 without obtaining a tax card. (1.5 Marks) 2. Company XY current accounting period ended on December 31, 2019. Its accountant submitted the final tax return on July 15. The tax institution will assess this tax return form within a period of 5 years. (1.5 Marks) 3.Company NA is a service company with a capital of OMR 30,000 and 11 employees. The company reported a gross income of OMR 52,000 and a tax of OMR 7,800 payable on July 31, 2020. The taxes of OMR 7,800 were paid on August 31, 2020. (3.5 Marks) 4.Company O paid Peter Jones OMR 15,000 on November 26, for conducting research and developing its products. In relation to this transaction, the company's accountant computed tax payable of 2,250 to be paid on December 26. This information was included only on Company O's tax form since Peter is not a resident in Oman. (2.5 Marks) 5.Company Z received a notification letter from the Income Tax Committee rejecting its objection against its tax assessment on June 5, 2020. The company filed a tax suit before the Primary Court against the decision issued by the Income Tax Committee on August 31, 2020. Z won the tax suit on December 1, 2020 and expecting to receive refund of the excess taxes paid on March 31, 2021. (1 Mark)

Question 2: (10 Marks) As a tax consultant, check whether the following independent cases are according to the Omani Tax Law or not. If not, state the a) correct regulation and calculations (if needed) and b) legal consequences of not following the regulations (if any). 1. Company AB commenced its business" operations on January 1,2019 and registered at the Tax Institution on April 1,2019 without obtaining a tax card. (1.5 Marks) 2. Company XY current accounting period ended on December 31, 2019. Its accountant submitted the final tax return on July 15 . The tax instifution will assess this tax return form within a period of 5 years. ( 1.5 Marks) 3.Company NA is a service company with a capital of OMR 30,000 and 11 employees. The company reported a gross income of OMR 52,000 and a tax of OMR 7,800 payable on July 31 . 2020. The taxes of OMR 7,800 were paid on August 31, 2020. (3.5 Marks) 4.Company O paid Peter Jones OMR 15,000 on November 26, for conducting research and developing its products. In relation to this transaction, the company's accountant computed tax payable of 2,250 to be paid on December 26. This information was included only on Company Os tax form since Peter is not a resident in Oman. (2.5 Marks) 5.Company Z received a notification letter from the Income Tax Committee rejecting its objection against its tax assessment on June 5, 2020. The company filed a tax suit before the Primary Court against the decision issued by the Income Tax Committee on August 31, 2020. Z won the tax suit on December 1,2020 and expecting to receive refund of the excess taxes paid on March 31, 2021. (1 Mark)