True / False question (3)

1. Tax on income of natural persons burden cannot be

shifted to any other person.
2. Tax on income of the natural person is imposed on each
type of income.
3. A tax period must be the fiscal year beginning at the 1st of
January and ending on 31st of December each year.
4. The tax is imposed on the total net income of natural
persons without deducting the cost of gaining the
revenue.
5. The tax is imposed on the total net income of the natural
persons that exceeds 5,000 per year.
6. The tax on income of natural persons grants the taxpayer
some exemptions such as L.E. 7,000 personal exemption
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for salary and the like.
7. Tax on profits of natural Persons may be calculated for a
period shorter or longer than twelve months.
8. The tax base of natural Persons shall be subject to tax at
the rate of 22.5 % of the net annual profits.
9. The tax will apply to all the amounts paid to non-residents
at the tax rate 10% after deductions for costs or any other
reason.

Solution
1 A B 6 A B
2 A B 7 A B
3 A B 8 A B
4 T B 9 A B 18
5 A B 10 A B
 Answer
No T or F Correction
1 T
2 F imposed on total net income
3 F A tax period may be the fiscal year beginning at the first of January
and ending on 31st of December each year, or any other 12
months.

4 F after deducting the cost of gaining the revenue.

5 F exceeds 7,200
6 T
7 T
8 F subject to tax at escalating rate
9 F Without any deductions for costs or any other reason

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