According to Progressive tax system in a country an individual are exempted for the first OMR 30,000
Question:
According to Progressive tax system in a country an individual are exempted for the first OMR 30,000 taxable income. Higher income bracket from 30,0001 to 75,000 taxable income on which tax rate is 15%. Additional income tax bracket over and above OMR 75,000 taxable income on which tax rate is 20%. Assuming that taxable income of an individual is OMR 90,000. What will be the tax liability of an individual?
a. OMR 6,750
b. Exempted
c. OMR 9,750
d. OMR 14,250
In 2019-20, Ms. Mariya has contributed 30,000 Gross donation to Royal Society for Protection of Birds in UK under Gift Aid Scheme. What will be her taxable income assuming that she is having only employment income of 130,000?
a. 100,000
b. 130,000
c. 32,500
d. 117,500
Operations Management Processes and Supply Chains
ISBN: 978-0132807395
10th edition
Authors: Lee J. Krajewski, Larry P. Ritzman, Manoj K. Malhotra