The income tax information which is related to the National Trading Company for the year 2020 was
Question:
The income tax information which is related to the National Trading Company for the year 2020 was as follows: gross income from commercial activity is JD 240,000, gross income from buildings (rent revenue) is JD 60,000, allowable expenses of the company are JD 180,000, building and land tax (Al-Musakfat) is JD 6,000.
1- The taxable income for the year 2020 is: ABCD
A- 200,000
B- 160,000
C- 120,000
D- None of the above
2- The tax due before offsetting Al-Musakfat for the year 2020 is: ABCD
A- 20,000
B- 32,000
C- 16,000
D- None of the above
3- The amount of building and land tax (Al-Musakfat) that is deducted for the year 2020 is: ABCD
A- 4,800
B- 3,200
C- 16,00
D- None of the above
4- The balance of income tax due after offsetting Al-Musakfat for the year 2020 is: ABCD
A- 14,800
B- 16,000
C- 19,200
D- None of the above
Expert Answer:
