Taxation

Question 12 (2 points) XYZ Pte Ltd, a company tax resident in Singapore, remitted the following foreign income back to Singapore in financial year ended 31 December 2021: (i) Net rental income of $69,700 from Country Z which has been subject to tax in Country Z at the headline tax rate of 15%. (ii) Net dividend income of $64,000 from Country Y which has been subject to tax in Country Yat the headline tax rate of 20%. (ii) Dividend income of $100,000 from Country K which does not impose tax on income. What is the gross taxable foreign income subject to Singapore tax in Year of Assessment 2022 1) $100,000 2) $182.000 3) $262,000 4) $82,000 Question 13 (2 points) Which of the following foreign income will be treated as remitted to Singapore in Year of Assessment 2022 for a company with a financial year ending on 30 April? 1) Foreign dividend income utilised on 26 May 2021 to settle liabilities arising from a Singapore-based business. 2) Foreign rental income used to settle the deposit payment for the purchase of an immovable property located in Country K on 15 January 2021. Overseas branch profits used to purchase shares in Black Hole Limited, a company tax resident and located in Country W on 1 April 2021. 4) Foreign interest income used to settle the hotel accommodation expenses incurred during the sales manager's business trip to Country L on 10 December 2020