Suggested Questions In SECTIONS Assisstante lecture Alya Elfedawy Tax accounting Suggested Questions In SECTIONS Assisstante lecture Alya Elfedawy

؟What is the meaning of Tax A cash levy collected by the government from individuals and establishments in accordance with determined rules with the aim of financing public expenditure and achieving economic and social welfare

Each one of the following is considered included in the The Egyptian tax system except: 1. Tax on Salaries 2. Sales tax 3. Tax on Revenues of Commercial and Industrial Activities. 4. Tax on fixed assets

Direct and indirect taxes is one of The major types of taxes Classification (true) Qualitative and unified taxes is one of The major types of taxes Classification (true) Personal and in-kind taxes is one of The major types of taxes Classification (true)

The DIRECT……… tax tack place when The person who bears its charge is the one who pays the tax . When transfer its burden to another person IS ...... IN DIRECT TAX

When imposing on each kind of income as an independent tax separately. Qualitative TAX In-kind TAX Personal TAX Progressive When considering the tax-payer’s payment capability and allow him some exemptions

Proportional tax Direct tax Progressive tax Unified TAX Progressive When imposing a fixed rate on the taxable amount regardless its value . This tax named: Proportional tax Direct tax Progressive tax Unified TAX When the tax rate related to the taxable amount Progressive In-kind TAX Personal TAX Deducted at source

Deducted at source Paid directly Taxes are retained from source by an intermediary who is obligated to pay tax to the tax administration Deducted at source Taxes are paid directly to the tax administration Paid directly When imposing on total incomes regardless their sources a unified rate. Unified at TAX When imposing tax on total income regardless the tax-payer’s personal circumstances In-kind TAX

The Juridical Persons is a direct tax imposed on natural persons only (false) Natural persons One of the Characteristics of tax on natural persons is : Annual tax adopted the principle of economic and social appurtenance A , b No one

Tax on natural persons is imposed on the total net income realized by the tax-payer during one whole year. (True) Tax on Juridical Persons applies to the income of each natural person resident in Egypt, whether he is an Egyptian, or a Foreigner. (false) Tax on natural persons

Residing in Egypt for a period exceeding 183 continuous or interrupted days during the fiscal year is one of the conditions that considering the tax-payer normally resident in Egypt (True) Ambassadors and Ministers Plenipotentiary and other political representative is excepted from being subjected to taxation

more than 250000 income (22.5%) From Zero income 6500 ( No tax ) From 6500 income 30000 (10% ) From 30000 income 45000 (15% ) From 45000 income 250000 ( 20%) more than 250000 income (22.5%)

An employee in a company acquires the following amounts: L.E. 500 overtime wages for working overtime hours. L.E. 150 travel and transportation allowances. L.E. 200 clothing allowance. L.E. 100 full time allowance. L.E. 300 pill of call phones . L.E. 200 cost of fuel, L.E. 300 insurance and L.E. 100 cost of periodic maintenance FOR company motor cars.

(g) L.E. 1000 Insurance Policies on the life employee , so he pay L.E. 100 premium during the year. (h) this company granted shares with L.E. 100 , but the market price of this share is L.E. 120 . (I) Suppose that this employee gained during the last 6 monthes L.E. 24000 and have a loan with value L.E. 20000 with interest 9% . and L.E. 25000 with no interest.

Required: Indicate The extent to which the above amounts are taxable. What about the taxable treatment . If this employee have a loan with value 25000 with no interest . What about taxable treatment.

SOLVE : 1. The following : (A) L.E. 500 overtime wages for working overtime hours. Subjected to tax on salaries and wages revenues (B) L.E. 150 travel and transportation allowances. Not subjected to tax on salaries and wages revenues (C) L.E. 200 clothing allowance. (D) L.E. 1200 full time allowance.

2. Determine the tax Bracket determination : a _ 300 × 20% = 60 $ subjected to tax B _ ( 200 + 300 + 100 ) × 20% = 120$ C _ 100 $ subjected to tax D _ 120 – 100 = 20 $ subjected to tax E _