Shedayeed & Tammam (both Saudi citizens) established their business establishment (a Partnership), and got registered with the Ministry of Commerce on the 'Commercial Register on 1/1/2018. The Shedayeed & Tammam Co. (partnership) registered also with the GAZT for the purposes of Tax and Zakat on the 1" of February, 2019. On 29/03/2019, they submitted their first tax declaration to the GAZT for the financial year ending on 31/12/2018 stating that their net taxable income for that year amounted to SR1,400,000. They both owned residences in KSA but they both live in New Zealand for 50 weeks of the whole year. Upon auditing and examining their submitted declaration, the GAZT made some adjustments due to some non- deductible expenses that were added back, at the amount of SR600,000. 5. a. What is the total amount of Income Tax owed by SH&T to the GAZT for the year ended 31/12/2018? SR100,000 b. SR200,000 SR300,000. d. SR400,000 C. 6. What is the fine imposed on SH&T (partnership) for failure to register on time with the GAZT? a. SR10,000. b. SR15,000 c. SR20,000. d. all of the above is incorrect. The right answer is: 7. For an expense to be deductible from the Zakat Base, following GAZT Rules, all of the following conditions must be met, EXCEPT: a. should be an actual expenditure substantiated by supporting documents or other proofs that enable GAZT to verify. b. should be related to the activity of the business, not for personal use. should not be related to previous years. d. should not be of capital nature. c. 8. Who ultimately bear the burden of Value Added Tax VAT? a. The producer of goods and services. b. The wholesaler. c. The retailer. d. The final customer