2018-19 II.QUIZ.docx - BUS 493 SPRING 2018-19 II QUIZ QUESTIONS and answers 1-Mustafa bey who is resident in Turkey earned the below income in 2019 a

2018-19 II.QUIZ.docx - BUS 493 SPRING 2018-19 II QUIZ...

This preview shows page 1 - 2 out of 3 pages.

BUS 493 SPRING 2018-19 II. QUIZ QUESTIONS and answers 1-Mustafa bey who is resident in Turkey, earned the below income in 2019 : TL a) Commercial profit: 1.000.000.- i) Advance tax: 150.000.- ii) Salary payment to his wife: 200.000.- (Already deducted) b) Rent from a residency: 30.000.- (He does not have any actual expense) c) Dividend from a Turkish company: 100.000.- (TL 15.000.- the withholding tax was deducted) d) Dividend from a foreign company abroad) 50.000.- (TL 5.000.- the withholding tax was deducted) e) Interest income from deposit account in a Turkish Bank: 70.000.- (TL 10.500.-the withholding tax was deducted) f) Interest income from bank deposit account abroad 40.000.- ( TL 4.000.- the withholding tax was deducted.) g) Capital gain arising from the sale of shares of a Turkish Company purchased in 2015: 20.000.- Note: The advance tax and the withholding taxes not deducted yet (50 points) Question: a) Please calculate 2018’s Taxable income, income tax , b) Please calculate income tax will be paid after deductions. c) Please state the dates of tax return filing and payments.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 3 pages?

  • Spring '18
  • erdogan ocal
  • Taxation in the United States

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes