Accounting Information System AIS
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Assignment-1-ACCT422-STUDENT.docx
College of Administration and Finance Sciences
Assignment (1)
Deadline: Saturday 16/10/2021 @ 23:59
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Course Name: Tax and Zakat Accounting |
Student’s Name: |
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Course Code: ACCT 422 |
Student’s ID Number: |
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Semester: 1st |
CRN: |
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Academic Year: 1443 H |
For Instructor’s Use only
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Instructor’s Name: Dr. Ashfaque Ahmed |
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Students’ Grade: /5 |
Level of Marks: High/Middle/Low |
Instructions – PLEASE READ THEM CAREFULLY
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
· Submissions without this cover page will NOT be accepted.
Question: 1
Explain the followings in your own words: (2 Marks)
a. Define and discuss persons subject to tax in accordance with the Saudi Tax Law?
b. How many types of tax systems are imposed in the KSA?
Answer:
Question 2
“As we know that Saudi Arabian government imposing different types of taxes on commodities, services as well as residency”
Required: Explain and discuss the above sentence. You answer should differentiate between selective commodities tax and value added tax. Answer in your OWN words. (2 Marks).
Answer:
Question 3
A resident capital company has both Saudi and non-Saudi shareholders and its capital is divided between them equally. Net income for 2019 was 3,000,000 SR and was adjusted according to the tax rules applicable in the kingdom is 3,200,000 SR. (1 Marks)
Required:
1. Compute the tax amount to be paid by the company.
2. Compute the tax amount to be paid by non-Saudi shareholders assuming that dividends paid in cash of 1,000,000 SR.
Answer:
