Fadi owns an establishment whose activity is the clothing trade. The sales of this institution amounted to 150,000,000 LBP. For the year 2018: only 80% received during 2018, and the rest on the account to be collected in 2019.

The burdens recorded in the accounts of the institution amounted to 130,000,000 L.L. (15,000,000 L.L. of these burdens is not proven by documents or is not taxable). 

Additional information: 

The lump-sum profit rate for the clothing trade activity is 20%. 

According to Mr. Fadi’s livelihood and the size of the shop, his profits can be estimated by the Ministry of Finance at 20 % of annual sales after deducting 10 million pounds. 

Which of the assignment methods is most appropriate for the Mr. Fadi Foundation *

Answer rating: 100% (QA)

Answer Solution Income Tax Computation Particulars NonSavings Income Saving Income Dividends Total E... View the full answer