Questions 4

QUESTION 4 OVERSEAS PAYMENTS \& WITHHOLDING TAXES 10 Marks Required to calculate Withhold Taxes for the following items: A. Dividend Income from PNG Companies K 42,500 (Net) B. Interest Income from PNG Banks K 21,250 (Net) C. Management Fees Paid to overseas non associates K 500000 D. Royalty paid to ordinary resident land owners K75,000 E. Royalty paid to non-resident non associates K250000 F. Royalty paid to non-resident associates K 500000 G. Insurance premium paid to overseas insurer K 1000000 H. Foreign contractor Fees paid to overseas company K 5000000 I. Fright charges and passenger charges collected by the overseas shipping company K 300000 J. Overseas Lease payment paid K 500000