Mrs. E obtained dividends of a gross amount of 175.000 from a full taxpayer joint...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Mrs. E obtained dividends of a gross amount of 175.000 € from a full taxpayer joint stock company (XYZ) in 2021. The obtained dividend has been subject to 15% tax stoppage made within the corporation, and so the stoppage amount is 262.500 TRY. On the date of collection and expenditure, buying rate for Euro announced by The Central Bank of Republic of Turkey is assumed as 10 TRY. Mr. A has also a flat in İstanbul. The rental income on flat was 120.000 TRY in 2021. She chooses lump-sum expense method for his rental income. Use the income tax schedule for 2021 from the slides. Required: Calculate Mrs. E's personal income tax liability for 2021. Tax Rate For Wages and Salaries in 2021 Tax bases and tax rates for wages and salaries stated in Article 103 of the PITL are as follows: Up to 24,000 TRY 15% . 20% 3,600 TRY for 24,000 TRY of 53,000 TRY, for more . . 27% 9.400 TRY for 53,000 TRY of 190,000 TRY, for more . 46.390 TRY for 190,000 TRY of 650,000 TRY, for more 207.390 TRY for 650,000 TRY of more than 650,000 TRY for more 40% 35% Mrs. E obtained dividends of a gross amount of 175.000 € from a full taxpayer joint stock company (XYZ) in 2021. The obtained dividend has been subject to 15% tax stoppage made within the corporation, and so the stoppage amount is 262.500 TRY. On the date of collection and expenditure, buying rate for Euro announced by The Central Bank of Republic of Turkey is assumed as 10 TRY. Mr. A has also a flat in İstanbul. The rental income on flat was 120.000 TRY in 2021. She chooses lump-sum expense method for his rental income. Use the income tax schedule for 2021 from the slides. Required: Calculate Mrs. E's personal income tax liability for 2021. Tax Rate For Wages and Salaries in 2021 Tax bases and tax rates for wages and salaries stated in Article 103 of the PITL are as follows: Up to 24,000 TRY 15% . 20% 3,600 TRY for 24,000 TRY of 53,000 TRY, for more . . 27% 9.400 TRY for 53,000 TRY of 190,000 TRY, for more . 46.390 TRY for 190,000 TRY of 650,000 TRY, for more 207.390 TRY for 650,000 TRY of more than 650,000 TRY for more 40% 35%
Expert Answer:
Answer rating: 100% (QA)
Mrs Es personal income tax liability for 2021 is calculated as f... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
Posted Date:
Students also viewed these accounting questions
-
XYZ stock price and dividend history are as follows: An investor buys three shares of XYZ at the beginning of 2007, buys another two shares at the beginning of 2008, sells one share at the beginning...
-
XYZ Company stock has been trading at about $27. You believe the market is assuming XYZ's modest 4% growth over the past several years and has not recognized that XYZ has new technology that will...
-
The firm was initially capitalized with 500 000 as an S Corporation The firm purchased equipment for 450 000 with cash of 125 000 and a note payable of 325 000 It also acquired furniture for 120 000...
-
Explain why the coffee shop manager should measure elasticity using the mid-point method in his calculations.
-
Given a 5 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,000, $1,300, $1,300, and $1,400.
-
A third group of resistant employees is made up of members of groups and teams who do not want to use the collaborative software tools that have been provided to them. You think the tools could...
-
For what reason does an auditor test a client's final priced inventory?
-
Management at Webster, in Problem is now concerned as to whether caulking tubes are being properly capped. If a significant proportion of the tubes are not being sealed. Webster is placing its...
-
A shuttle van picks up passengers and drives them to a destination, where they all leave the van. Keep a count of the boarding passengers, but don't allow boarding if the van is full. First show the...
-
On December 1, Year 1, John and Patty Driver formed a corporation called Susquehanna Equipment Rentals. The new corporation was able to begin operations immediately by purchasing the assets and...
-
Following are some key balance sheet and income statement figures for Canadian Oil Sands Limited from year end 2015. All figures are in $ millions. Canadian Oil Sands Ratios Table - 2015 Total Debt $...
-
Think about the different communities you belong and what, if anything you think needs to change in a positive way. 2. Decide on an action that you could take to make positive change in your...
-
Do you think using communication methods based on information technology (IT) is the best way for a large business to communicate with its suppliers? Justify
-
As an economy develops and becomes more integrated into the world economy how do its costs of production change and how well can manage them in both the short-run and long run.
-
What is the net income of sole proprietorships, partnerships and other unincorporated businesses?
-
A client with pneumonia has an order for Zosyn 250 mg diluted into 500 ml of NS. The medication is to run over 1 hour. The tubing gtt factor is 30 gtt per ml. How many drops per minute (gtt/min)...
-
Weber's Theory of Bureaucracy analyses A. Background information on the theorist. B. The important points of the theory are sufficient to show a good and workable understanding of the theory. Do not...
-
Consider the following cash flows in Table P5.5. (a) Calculate the payback period for each project. (b) Determine whether it is meaningful to calculate a payback period for project D. (c) Assuming...
-
Using the same facts as in RE17-9, assume instead that Ruby declares and issues a 50% stock dividend when the stock is selling for $30 per share. Prepare the journal entry on the date of declaration...
-
The Borrell Company purchased four delivery trucks on January 2, 2010 for $22,000 each. The company expected two of the trucks to last five years and have a residual value of $3,500 each. The other...
-
At the end of Year 1, Framber Company received $8,000 as a prepayment for renting a building to a tenant during Year 2. The company erroneously recorded the transaction by debiting Cash and crediting...
-
Fill in the Blank. In a random process, the outcome of an experiment will be a function of some _________ such as time.
-
What is the covariance between two random variables \(X\) and \(Y\) ?
-
The joint density function of two random variables \(X\) and \(Y\) is given by \[p_{X, Y}(x, y)= \begin{cases}\frac{x y}{9}, & 0 \leq x \leq 2,0 \leq y \leq 3 \\ 0, & \text { elsewhere }\end{cases}\]...
Study smarter with the SolutionInn App