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Tax Law #3 PRACTICE

Tax Law #3 PRACTICE. Zhanat Alimanov, assistant professor. Calculate PIT: Masha buys apartment at 4 mln, sells at 6 mln. after 13 years. How much is her PIT? Masha buys apartment at 11 mln, sells at 16 mln. after 3 months. How much is her PIT?

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Tax Law #3 PRACTICE

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  1. Tax Law #3 PRACTICE Zhanat Alimanov, assistant professor

  2. Calculate PIT: Masha buys apartment at 4 mln, sells at 6 mln. after 13 years. How much is her PIT? Masha buys apartment at 11 mln, sells at 16 mln. after 3 months. How much is her PIT? Masha buys shares (51%) at 12 mln, sells at 16 mln. after 2 months. How much is her PIT? Masha buys shares (49%) at 11 mln, sells at 13 mln. after 4 years. How much is her PIT? Masha buys a car at 2 mln, sells at 4 mln. after 3 years. How much is her PIT? Masha buys a car at 1 mln, sells at 2 mln. after 3 months. How much is her PIT? Home assignment

  3. Step 1: Calculate Total Personal Revenue (TPR) per month* *For PIT & Social tax, tax period is one calendar month!

  4. Step 2: How much is Tax of the Company?

  5. Calculate tax burden of the company on Alex’s income: under (1) Labor Law, (2) Civil Law (not IE), & (3) Civil law (IE): Salary is KZT 621,000 Salary is KZT 527,000 Salary is KZT 7.5 mln Salary is KZT 1.3 mln Salary is KZT 57,000 Salary is KZT 317,000 Salary is KZT 432,000 Salary is KZT 4 mln. Practice tests

  6. Calculate tax burden of the company on Pasha’s Income a month: under (1) Labor Law, (2) Civil Law (not IE), & (3) Civil law (IE): Salary is KZT 484,000 a month & free lunch (1,300 per lunch, 9 lunches a month) Salary is KZT 451,000 a month & forgave (простили) the loan for 1.2 mln. Salary is KZT297,000 a month & vacation to Malaga for 310,000 . Salary is KZT 875,000 a month & free delivery from work to home (cost of the delivery is 900 per day, 21 days). Salary is KZT 163,000 a month & bonus 71,000 Salary is KZT 619,000 a month & business trip to Paris (13 nights, hotel 130,000 a night, food 9,700 a day) Salary is KZT 585,000 a month & gave clients 7 dinners (72,000) Practice tests

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