CH 2 Part 2 - Tax Accounting

Tax Accounting 1
Ch 2 – Part 2
Content:
• Taxable Income of Natural Persons
• Tax Return
• The Due Tax
2019
The Taxable Income of Natural Persons
A) Taxable Income:
1- Salaries and the like:
An Individual works for someone else (Subservient / Employee)
Ex: A doctor who is working in a public hospital.
Tax will be imposed on the net annual income from salaries and the like, after all deductions
and personal exemption (L.E 7,000), including all amounts due to the taxpayer from a foreign
source for works performed in Egypt, whether he was socially or economically attached.
2- Commercial and Industrial activity:

Based mainly on capital, and the activity is exercised independently (he is the owner).
- Commercial such as merchandising.
- Industrial such as manufacturing.
Ex: A doctor who owns a private hospital.
Tax will be imposed on net annual income from commercial and industrial activities.
Net annual income will be calculated based on Accrual Basis of Accounting, as follows:
Accrued Revenues – Accrued Expenses
3- Non-commercial and Professional activity:

Based mainly on work element such as mental activity, skills, and qualifications (scientific
certificates), and the activity is exercised independently (he is the owner).
Ex: A doctor who owns a private clinic.
Tax will be imposed on the net annual income from non-commercial and professional activities.
Net annual income will be calculated based on Cash Basis of Accounting as follows:
Cash Revenues – Cash Expenses
4- Real Estate Wealth:

He owns a place and rent it for others.
Ex: A doctor who owns a flat and rent it.
Tax will be imposed on net annual income from real estate wealth for the following sources:
- Revenues from buildings rented according to the provisions of the Civil Code (new lease
system).
- Revenues from furnished units.
Net annual income will be calculated as 50% of real estate revenues.
Note:
Accrual Basis Cash Basis
- Revenues for the financial year (tax return year) - Revenues are recorded only if it is received
are recorded whether received in cash or not. in cash during the financial year.
- Expenses for the financial year are recorded - Expenses are recorded only if paid in cash
whether paid in cash or not. during the financial year.
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B) The Tax Return for the total income of natural person:
1- Net annual income from salaries and the like

(After all deductions and personal exemption → L.E 7,000) xx
2- Net annual income (or loss) from commercial and industrial activities → Accrual basis
(Taxable net profit (loss) = Taxable Accrued Revenues – Taxable Accrued Expenses) xx
3- Net annual income (or loss) from non-commercial and professional activities → Cash basis
(Taxable net profit (loss) = Taxable Cash Revenues – Taxable Cash Expenses) xx
4- Net annual income from real estate wealth → 50% of annual revenues
a- Revenues from buildings rented according to the provisions of the civil code x
(new rent law) x 50% only
b- Revenues from furnished units x 50% only x
xx
= Total net annual income of natural person (Taxable Income) XX
Less: The exempted bracket (for minimum cost of living) (8,000)
= Tax Base (Tax base shall be rounded to the nearest lower ten pounds) XX
C) The Due Tax can be calculated as follows:
1st LE 8,000 Exempted

2nd 22,000 x 10% =
3rd 15,000 x 15% =
4th 155,000 x 20% =
5th The remaining balance x 22.5% =
XX
= Tax amount
Less: Tax Credit (If any) (x)
Any income tax paid during the year:
– Salaries tax deducted by work place (x)
(Monthly tax deducted x 12 months)
– Withheld at source income tax (x)
= Due Tax XX
Remember that the “Tax Base” is the total net annual income after deducting the exempted bracket
(L.E 8,000) and this amount shall be rounded to the nearest lower ten pounds.
For example:
- L.E 90,823 rounded to L.E 90,820
- L.E 50,189 rounded to L.E 50,180
- L.E 100,019.9 rounded to L.E 100,010
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D) Time of submitting the Tax Return:
• A natural person should submit his annual tax return to the tax administration before April 1
(maximum three months after the end of his fiscal financial year.)
• The natural person will be exempted from submitting his tax return only in the following three
cases:
1- If his income is limited to salaries and the like only.
2- If his income is limited to real estate wealth only, with net annual income of no more than
the exempted bracket stated in the law (L.E 8,000).
3- If his income is limited to salaries and the like in addition to real estate wealth, with total
net annual income of no more than the exempted bracket stated in the law (L.E 8,000).
Note that the exemption from submitting the tax return occur in these three cases only, so if the
taxpayer’s income is limited to commercial and industrial activity or non-commercial and
professional activity, with net annual income of no more than the exempted bracket, he have to
submit his tax return.
Exercise 1:
The following information related to an engineer for the year ended on 31/12/2018:
a. He works for an international company, and his annual net income before deducting the exempted
bracket was L.E. 32,000. He was delegated to teach in a private university for a bonus of L.E 6,000.
The actual tax paid during the year was L.E. 2,722 on his salary, and 600 on his delegation bonus.
b. He has a sole proprietorship commercial company, he collected L.E. 75,000 from his customers
including L.E. 5,000 in advance for works planned to be implemented next year. His actual expenses
during the year were 40,000.
c. He has a private office, his receipt was L.E 57,000 after deducting 3,000 for tax purpose. His office
actual expenses were 6,000.
d. He owns a building consisting of 7 apartments. 5 apartments are rented by fixed-term lease system
(new rent) of L.E. 1,000 per month for the apartment and the rest rented as furnished at annual rent
of L.E 24,000 for the apartment.
Required:
1. Calculate the due tax for year 2018.
2.Choose the best answer for the following questions:
1- The net annual income from salaries and the like which are included in the
tax base of income of natural person equals L.E…………
A- 21,600 B- 32,000 C- Zero D- None of the above
2- Net profit (loss) of the commercial & industrial activity equals L.E……………
A- 21,600 B- 22,800 C- 30,000 D- None of the above
3- Net profit (loss) of the non-commercial profession equals L.E……………
4- Net profit of the real estate equals L.E……………
5- The tax base for 2018 equals L.E…………………..
A- 21,600 B- 22,800 C- 162,000 D- None of the above
6- The due tax for 2018 equals L.E…………………..
A- 29,450 B- 21,519.25 C- 162,800 D- None of the above
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Exercise 2:
You have the following data for an Egyptian doctor resident in Egypt for year 2018:
a. He works as a consultant physician in a hospital and receives a monthly salary L.E 3,000. His annual
income from salary from this company before deducting the personal exemption was L.E 36,000.
Noting that the company deducted L.E 185 as monthly tax on salaries and the like.
b. He owns a private hospital (a sole proprietorship) and its total revenues for the year L.E 50,000 (of
which 10,000 still due not collected yet). With total expenses for the year L.E 32,000 (including 2,000
still outstanding not paid yet).
c. He has a private clinic and the professional revenues from this clinic were L.E 30,000 (including 5,000
for work to performed next year), and the expenses were L.E 18,000 (including 2,000 expenses paid
in advance).
d. He owns a building consists of three floors rented according to the provisions of the Civil Code. His
total revenue from this building was L.E 16,000. Note that, the annual actual expenses for this
building were L.E 6,000.
Required:
a) Calculate the due tax for year 2018.
b) Choose the best answer for the following questions:
1- The taxable income from salary and the like equals L.E…………
A-7,000 B-36,000 C-29,000 D- Zero E-Non of the above
2- The taxable income (loss) of the commercial & industrial activity equals L.E…
A-50,000 B-18,000 C- (32,000) D- Zero E-Non of the above
3- The taxable income(loss) of the non-commercial profession equals L.E………
A- 12,000 B- 30,000 C- 12,000 D- Zero E-Non of the above
4- The taxable income of the real estate equals L.E……………
5- Total net income for 2018 equals L.E…………………..
A-59,000 B- 67,000 C- 9,000 D- Zero E-Non of the above
7- The tax amount for 2018 equals L.E……………
8- The due tax for 2018 equals L.E……………
A- 9,000 B- 2,220 C- 5,966.25 D- Zero E-Non of the above
Exercise 3:
The following is the data for an Egyptian resident in Egypt for year 2018:
1- He works in a private company. His taxable income from salary from this company was L.E 3,000.
2- He owns a building consists of two floors rented as furnished units. His total annual revenue from this
building was L.E 6,000.
Required:
1. Determine his annual taxable net income as an individual.
3. Choose the best answer for the following questions:
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A- 3,000 B-36,000 C-29,000 D- Zero E-Non of the above
2- Taxable Net profit (loss) of the commercial & industrial activity equals L.E……
A-25000 B-13,000 C- (22,000) D- Zero E-Non of the above
3- Taxable Net profit (loss) of the non-commercial profession equals L.E………
4- Taxable Net profit of the real estate equals L.E……………
A-7,000 B- 3,000 C- 750 D- Zero E-Non of the above
5- Taxable (Total) net income for 2017 equals L.E…………………..
A- 1,000 B- 540 C- 460 D- Zero E-Non of the above
A- 1,000 B- 540 C- 460 D- Zero E-Non of the above
Exercise 4:
The following is the data for an engineer who has a permanent residency in Egypt for year 2018:
1. He works as a consultant engineering in a company with a monthly salary L.E 4,000. His taxable
income from salary from this company was L.E 41,000. Noting that the company deducted L.E 190 as
monthly tax on salaries and the like.
2. He has a sole proprietorship working in the field of real estate construction, his cash revenue
was L.E 70,000 including L.E. 20,000 received in advance for operations planned to be carried
out in 2018, with total expenses for the year L.E 50,000.
3. He has an engineering office of which its cash revenue was L.E.15,009 as fees of designing buildings
in Egypt, and another L.E. 10,000 is still due and was not collected yet. Noting that there was L.E.500
deducted from his revenue as withheld at sources income tax. His expenses was L.E7,500 including
1,000 will be paid during the following year.
4. He owns a building consists of three floors rented according to the provisions of the Civil Code. His
total monthly revenue from this building was L.E.1,000.
Required:
1. Determine his annual taxable net income as an individual.
3. Choose the best answer for the following questions:
A- 4,000 B-48,000 C-41,000 D- Zero E-Non of the above
2- Taxable Net profit (loss) of the commercial & industrial activity equals L.E……………
A- 20,000 B-13,000 C- (10,000) D- Zero E-Non of the above
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3- Taxable Net profit (loss) of the non-commercial profession equals L.E…………
4- Taxable Net profit of the real estate equals L.E……………
A-6,000 B- 12,000 C- 1,000 D- Zero E-Non of the above
5- Taxable (Total) net income for 2018 equals L.E…………………..
A- 1,000 B- 10,550 C- 460 D- Zero E-Non of the above
A- 1,000 B- 540 C- 6,978.75 D- Zero E-Non of the above
Exercise 5:
The following data are provided for a resident Egyptian Accountant during year 2015:
1. He works as an accountant in a company and receives a monthly salary L.E 4,000. His annual income
from the company after all deductions and before the personal exemption was L.E 48,000. Noting that
the company deducted L.E 190 as monthly tax on salaries and the like.
2. He owns a factory (Sole proprietorship), its total revenues were L.E 80,000 (of which L.E 10,000
concerning year 2016) while the year expenses were L.E 100,000 (of which L.E 15,000 still outstanding
not paid yet).
3. He owns a private accounting office, its total revenues for the year were L.E 60,000 (of which L.E 10,000
still due not collected yet), while its total expenses for the year were L.E 42,000 (of which L.E 12,000
still outstanding). Noting that the withheld at source tax was L.E 1,060.
4. He owns a building consists of 2 floors rented as furnished units. His monthly revenue was L.E 2,000
each.
Required: Choose the best answer for the following:
1. Net annual taxable income from salaries and the like after all deductions and personal exemption is:
A. 41000 B. 48000 C. 43280 D. None of the above
2. Net annual taxable income (loss) from commercial and industrial activities is:
A. (30000) B. (20000) C. 30000 D. None of the above
3. Net annual taxable income (loss) from non-commercial and professional activities is:
A. 20000 B. 20160 C. (20000) D. None of the above
4. Net annual taxable income from real estate wealth is:
5. The total net annual income (taxable income) for this accountant during year 2015 is:
6. Tax base for this accountant during year 2015 is:
7. The tax amount for year 2015 is:
8. The due tax to be paid by this accountant for year 2015 is:
A. 2525.26 B. 2626.26 C. 2626.25 D. None of the above
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Exercise 6:
1) Net profit (loss) of the commercial & industrial activity is calculated using cash base.
2) Net profit (loss) of the non-commercial profession is calculated using accrual base.
3) All the rent revenue of buildings rented according to the provisions of the Civil Code is subject to tax
without any deduction for expenses.
4) The profit of furnished units is subject to tax after deducted 50% of the revenue for expenses.
5) Every natural taxpayer is obliged to file an annual tax return.
6) The taxpayer will be exempted from submitting the tax return if his income is limited to real estate
wealth revenues, at net income of no more than the exempted bracket stated in the law (L.E 8,000)
7) The income realized outside Egypt by a non-resident person will be subjected to Egyptian tax under two
conditions.
8) The tax can be calculated for a period of more than twelve months if the date between the change and
the beginning of the old financial year is not more than three months.
9) The tax on natural person's income is an indirect tax, annual tax, imposed on total net income.
10) Tax on income of natural persons is according to a proportional fixed flat rate.
11) Net annual income from salaries and the like is before deducting the personal exemption.
12) Total revenues from real estate wealth is taxable without deducting any expenses.
13) Revenues from furnished units or new lease system units will be taxable after deducting 50% as
expenses.
14) Any natural person (individual) has an exemption amounting to L.E 8000 annually as minimum cost of
living exemption regardless married or unmarried.
15) Taxable income of a natural person is that income after deducting L.E 8000 the first bracket exemption
(minimum cost of living exemption).
16) For a natural person whose taxable income is L.E 6,400, the due tax is L.E 640.
17) For a natural person whose taxable income is L.E 20,000, the due tax is L.E 280.
18) For a natural person whose tax base is L.E 20,000, the due tax is L.E 280.
19) A natural person is considered to be a resident in Egypt if having a permanent residency in Egypt.
20) A natural person is resident in Egypt if only he stayed in Egypt for a period more than 183 days
continuously within 12 months.
21) A natural person who is residing in Egypt for a period of 184 days continuously within a year, is
considered to be resident in Egypt.
22) For non-resident natural persons, all their income realized from inside and outside Egypt will be
subjected to tax on income of natural persons in Egypt.
23) If an accountant who is resident in Egypt and owns an accounting office attained Saudi Riyal 50,000 as
fees resulting from performing some accounting consultations in Saudi Arabia, this income will be
24) If a person who is resident in Egypt and works as a staff member in faculty of engineering Cairo
university, attained Dirham 40000 as fees resulting from performing some designs in United Arab of
Emirates, this income will be subjected to tax on income of natural persons in Egypt.
25) All Egyptians are considered to be residents in Egypt.
26) All foreigners are considered to be non-residents in Egypt.
27) Tax on income of natural persons is an indirect tax.
28) The burden of tax on income of natural persons can be shifted from one natural person to another.
29) Tax on income of natural persons is a qualitative tax.
Page | 7
30) In tax on income of natural persons, the total net annual income of the taxpayer will be divided
according to its source and each source of income will be subjected to a separate tax.
31) Tax on income of natural persons is an in-kind tax.
32) Tax on income of natural persons gives the taxpayer some exemptions as the minimum cost of living
exemption L.E 7000 annually for any natural person.
33) Tax on income of natural persons is a proportional tax.
34) The tax base for income of natural persons shall be rounded to the nearest highest 10 pounds.
35) For resident natural persons in Egypt, an economic attachment is adopted.
36) Tax on income of natural persons is a monthly tax.
37) The tax period for tax on income of natural persons is the financial (fiscal) calendar year or any other
period of 12 months without any exception.
Exercise 7:
1) A natural persons taxpayer owns a private hospital and its total revenues for the year L.E 70,000,
with total expenses for the year L.E 32,000. The taxable income (loss) of the Non-commercial and
Professional activity equals L.E ………
a- 35,000 b- 38,000 c- 32,000 d- zero e- Cannot be determined
2) A natural persons taxpayer owns a private hospital and its total revenues for the year L.E 70,000,
with total expenses for the year L.E 32,000. The taxable income (loss) of the commercial & Industrial
activity equals L.E ………
a- 35,000 b- 38,000 c- 32,000 d- zero e- None of the above
3) A natural persons taxpayer income from salaries for 2018 is L.E 4,000, and his total annual revenue
from two floors rented as furnished units was L.E 6,000. The tax amount for 2018 equals L.E ………
a- 1,000 b- 700 c- 280 d- zero e- None of the above
4) An Egyptian natural persons taxpayer’s total net income is L.E 67,000. The tax base for 2017 equals
L.E………
a- 59,000 b- 67,000 c- 60,000 d- zero e- None of the above
5) If the total net annual income (taxable income) of a natural person (A taxpayer) was L.E 51,269. Then
the due tax on this taxpayer income will be:
A. L.E 5,702 B. L.E 5,274.35 C. L.E 5,724.35 D. None of the above
6) If the total net annual income (Taxable income) of a natural person (A taxpayer) was L.E 390213.
Then the due tax on this taxpayer income will be:
A. L.E 87,750 B. L.E 78,247.25 C. L.E 78,397.25 D. None of the above
7) If the total net annual income (Taxable income) of a natural person (A taxpayer) was L.E 6,505, Then
a. L.E 0.55 b. L.E 1 c. No due tax d. None of the above
8) If the total net annual income (Taxable income) of a natural person (A taxpayer) was L.E 8,010, Then
a. L.E 1.5 b. L.E 1 c. L.E 0.15 d. No due tax
Page | 8
Answers
Exercise 1:
1- Net annual income from salaries and the like 32,000
2- Net annual income (or loss) from commercial and industrial activities
(70,000 – 40,000) 30,000
3- Net annual income (or loss) from non-commercial and professional activities
(60,000 – 6,000) 54,000
4- Net annual income from real estate wealth
( 5 x 1,000 x 12 x 50%) + (2 x 24,000 x 50%) 54,000
= Total net annual income of natural person (Taxable Income) 170,000
Less: The exempted bracket (8,000)
= Tax Base (Tax base shall be rounded to the nearest lower ten pounds) L.E 162,000
The Due Tax can be calculated as follows:

2 nd 22,000 x 10% = 2,200
3rd 15,000 x 15% = 2,250
4 th 125,000 x 20% = 25,000
= Tax amount 29,450
Less: Tax Credit (29,450 x 7.5%) (2,208.75)
Salaries tax deducted (2,722)
Withheld at source tax (3,000)
= Due Tax L.E 21,519.25
Note: The L.E 600 tax due on delegation bonus already paid during the year.
1 2 3 4 5 6
B C A A C B
Exercise 2:
1- Net annual income from salaries and the like (36,000 – 7,000) 29,000
(50,000 – 32,000) 18,000
(30,000 – 18,000) 12,000
(16,000 x 50%) 8,000

2 nd 22,000 x 10% = 2,200
3 rd 15,000 x 15% = 2,250
4th 22,000 x 20% = 4,400
= Tax amount 8,850
Less: Tax Credit (8,850 x 7.5%) (663.75)
Salaries tax deducted (185 x 12) (2,220)
= Due Tax L.E 5,966.25
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1 2 3 4 5 6 7 8
C B C A B A B C
Exercise 3:
2- Net annual income (or loss) from commercial and industrial activities 0
3- Net annual income (or loss) from non-commercial and professional activities 0
4- Net annual income from real estate wealth (6,000 x 50%) 3,000
= Tax Base (Tax base shall be rounded to the nearest lower ten pounds) L.E 0
His Taxable income did not exceed the exempted bracket, so this taxpayer will not pay any taxes. Also, this
taxpayer will be exempted from submitting the tax return.
1 2 3 4 5 6 7 8
A D D B A D D D
Exercise 4:
(70,000 – 50,000) 20,000
(15,009 – 6,500) 8,509
(1,000 x 12 x 50%) 6,000

2nd 22,000 x 10% = 2,200
3rd 15,000 x 15% = 2,250
4th 30,500 x 20% = 6,100
= Tax amount 10,550
Less: Tax Credit (10,550 x 7.5%) (791.25)
Salaries tax deducted (190 X 12) (2,280)
Withheld at source tax (500)
= Due Tax L.E 6,978.75
Note: The L.E 20,000 received in advance will be included in the accrual basis because its for operations to
be carried out in 2018 which is the same tax year.
1 2 3 4 5 6 7 8
C A A A C B B C
Page | 10
Exercise 5:
1- Net annual income from salaries and the like (48,000 – 7,000) 41,000
(70,000 – 100,000) (30,000)
(50,000 – 30,000) 20,000
(2,000 x 2 x 12 x 50%) 24,000

2nd 22,000 x 10% = 2,200
3rd 15,000 x 15% = 2,250
4th 10,000 x 20% = 2,000
= Tax amount 6,450
Less: Tax Credit (6,450 x 7.5%) (483.75)
Salaries tax deducted (190 X 12) (2,280)
Withheld at source tax (1,060)
= Due Tax L.E 2,626.25
1 2 3 4 5 6 7 8
A A A C A A D C
Exercise 6:
No. Mark Correction

1 F accrual base
2 F cash base.
3 F 50% of the revenue
4 T
5 F The taxpayer may be exempted from submitting the tax return in three cases
6 T
7 F Resident
8 T
9 F Direct
10 F Tax on income of natural persons is according to as escalating ( progressive) rate
11 F Net annual income from salaries and the like is after deducting the personal exemption
12 F Total revenues from real estate wealth is taxable after deducting 50% od it as expenses.
13 T
14 T
Tax base of a natural person is that income after deducting L.E 8000 The first bracket
15 F
exemption (minimum cost of living exemption)
16 F For a natural person whose taxable income is L.E 6400 there is no due tax.
Page | 11
Taxable income is 20,000
First: L.E 8000 exempted
Second: L.E 12,000 subjected to tax by rate 10%
17 F
Tax Amount =12,000 x 10% = 1,200
Due tax =Tax Amount - Tax Credit
1,200 - (1,200 x 85%) =180
Tax base is 20,000 ( after deducting the first exempted bracket 8000)
Second : L.E 20,000 subjected to tax by rate 10%
18 F Tax Amount =20,000 x 10% = 2,000
Due tax =Tax Amount - Tax Credit
2,000 - (2,000 x 85%) = 300
19 T
A natural person is considered resident in Egypt if residing in Egypt for a period more than
20 F
183 continuous or intermittent days within twelve months.
21 T
For resident natural persons, all their income realized from inside and outside Egypt will be
22 F
Or, for non-resident natural person, only income realized in Egypt will be subjected to tax
on income of natural persons in Egypt.
23 T
The income realized outside Egypt by a resident natural person will be subjected to tax
under the following two conditions only:
1- If the natural person has a commercial or industrial or professional activity in Egypt
24 F
(headquarters or head office)
2- The income realized outside Egypt is as a result of performing this commercial or
industrial or professional activity
25 F Egyptians could be either residents or non-residents.
26 F Foreigners could be either residents or non-residents.
27 F Tax on income of natural persons is a direct tax.
The burden of tax on income of natural persons can’t be shifted from one natural person to
28 F
another.
29 F Tax on income of natural persons is a unified tax.
In tax on income of natural persons, the total net annual income of the taxpayer will be
30 F
subjected to a single tax regardless its source.
31 F Tax on income of natural persons is a personal tax.
Tax on income of natural persons gives the taxpayer some exemptions as the minimum cost
32 F
of living exemption L.E 8000 annually for any natural person.
33 F Tax on income of natural persons is an escalating tax.
The tax base for income of natural persons shall be rounded to the nearest lowest 10
34 F
pounds.
35 F For resident natural persons in Egypt, a social attachment is adopted.
36 F Tax on income of natural persons is an annual tax.
The tax period for tax on income of natural persons is the financial (fiscal) calendar year or
37 F any other period of 12 months with some exceptions (In some cases tax may be computed
for a period of less or more than 12 months).
Page | 12
Exercise 7:
No. Choice Calculations, or Justification

The taxable income (loss) of the Non-commercial and Professional activity cannot be
1 E
determined as the given information is related to the commercial & Industrial activity
2 B = 70,000 – 32,000 = 38,000
Income from salaries = 4,000
3 D Income from real estate (6,000 x 50%) = 3,000
Total income of 7,000 which does not exceed the exempted bracket, so there is no taxes.
4 A = 67,000 – 8,000 = 59,000
1st : 8000 ( exempted )
2nd: 22,000 x 10% =2,200
3rd : 15,000 x 15% =2,250
5 B 4rth : 6,260 x 20% =1,252
Tax Amount = 5,702
Due tax = 5,702 - (5,702 x7.5%)
= 5,274.35
1st : 8000 ( exempted )
2nd: 22,000 x 10% =2,200
3rd : 15,000 x 15% =2,250
6 B 4rth : 155,000 x 20% =31,000
5th: 190,210 x 22.5% = 42,797.25
Tax Amount = 78,247.25
Due tax = 78,247.25 - No credit = 78,247.25
7 C Less than the exempted bracket.
1st : 8,000 ( exempted )
8 B
2nd: 10 x 10% = L.E 1
Page | 13

CH 2 Part 2 - Tax Accounting

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CH 2 Part 2 - Tax Accounting

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Tax Accounting 1

2- Commercial and Industrial activity:

3- Non-commercial and Professional activity:

4- Real Estate Wealth:

1- Net annual income from salaries and the like

C) The Due Tax can be calculated as follows:

1st LE 8,000 Exempted

Required: Choose the best answer for the following:

The Due Tax can be calculated as follows:

The Due Tax can be calculated as follows:

The Due Tax can be calculated as follows:

1st LE 8,000 Exempted

The Due Tax can be calculated as follows:

1st LE 8,000 Exempted

No. Mark Correction

No. Choice Calculations, or Justification

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