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    Advanced Taxation SMU 2762020 Q

    Uploaded by

    Wedaje Alemayehu
    This document provides instructions and questions for an accounting final exam. It is divided into two parts. Part one contains 6 essay questions worth 5 points each about public finance, taxation, and the implications of taxation. Part two contains 2 case analysis questions worth a total of 10 points calculating tax liability and VAT for business scenarios. The exam is to be submitted as a single Word document by the deadline of June 28, 2020 at 8:00 PM.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Advanced Taxation SMU 2762020 Q

    Uploaded by

    Wedaje Alemayehu
    60 views2 pages
    This document provides instructions and questions for an accounting final exam. It is divided into two parts. Part one contains 6 essay questions worth 5 points each about public finance, taxation, and the implications of taxation. Part two contains 2 case analysis questions worth a total of 10 points calculating tax liability and VAT for business scenarios. The exam is to be submitted as a single Word document by the deadline of June 28, 2020 at 8:00 PM.

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    Taxation

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    Advanced taxation SMU 2762020 Q

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    This document provides instructions and questions for an accounting final exam. It is divided into two parts. Part one contains 6 essay questions worth 5 points each about public finance, taxation, and the implications of taxation. Part two contains 2 case analysis questions worth a total of 10 points calculating tax liability and VAT for business scenarios. The exam is to be submitted as a single Word document by the deadline of June 28, 2020 at 8:00 PM.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    60 views2 pages

    Advanced Taxation SMU 2762020 Q

    Uploaded by

    Wedaje Alemayehu
    This document provides instructions and questions for an accounting final exam. It is divided into two parts. Part one contains 6 essay questions worth 5 points each about public finance, taxation, and the implications of taxation. Part two contains 2 case analysis questions worth a total of 10 points calculating tax liability and VAT for business scenarios. The exam is to be submitted as a single Word document by the deadline of June 28, 2020 at 8:00 PM.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    ST.

    MARY’S UNIVERSITY
    SCHOOL OF GRADUATE STUDIES
    MBA IN ACCOUNTING AND FINANCE PROGRAM
    ACCOUNTING FOR MANAGERS FINAL EXAMINATION

    Maximum Marks: 40
    Date of Exam: 28 June 2020
    Time Allowed: 16:00 to 20:00

    Name: _________________________________________________ ID. No. _____________

    Section: __________________________
    GENERAL DIRECTIONS
     Read the Instructions for Each question and Answer the Questions Accordingly.
     Use the following email address to send your examination projectanalysis9@gmail.com
     The assignment should be submitted in a “SINGLE Word Document only. No pdf,
    excel or other format is accepted. Don’t send more than one document- the
    entire/complete paper content should be in a single document!
     General Text Format:
     Font Size: 12,
     Spacing: 1.15,
     Font type – times new roman
     Font size – 12 and bold
     Margins – Left margin 1.25 inches; Right margin 1 inch; Top and bottom 1
    inch
     Paper Size: A4
     Save your file using your first name and section identity as file name.
     Begin each question with new page

    Page 1 of 2
    Part I: Essay type questions (6X5) [Attempt each question with a maximum of one page]
    1. Explain the concern of public finance and fiscal policy.
    2. Discuss similarities and differences of Public Finance and Private Finance
    3. Ethiopian income tax system is progressive. Evaluate considering requirements of a good
    tax structure.
    4. Ethiopia has a relatively low tax to GDP on average in terms of African Standards and in
    the world on an average basis. What could be the reasons and the implications for this
    situation?
    5. How do the following taxes affect the economy in the long run?
    a. Income tax
    b. VAT
    6. Discuss how taxation may affect choice of finance and company location.

    Part Two: Case Analysis questions (10Pts)


    Instruction: Give clear answers for the following questions

    7. During the year ended December, 2016. An Ethiopian resident company had a domestic
    trading income of $180,000 and received a remittance on account of overseas profits of
    $80,000 from its overseas branch. The actual profits earned by the branch for the year
    ended December, 2016 are $100.000. These profits were taxed overseas at the rate of 20%.
    Using the existing tax rate and the method for preventing double taxation in Ethiopia,
    Calculate the corporation’s tax liability for the year.

    8. Assume that a business firm "A", sells taxable supplies and makes taxable sales of Birr.80,
    000, and has taxable purchases of Birr.50, 000 plus Birr.5, 000 for the same period.
    And the firm has imported supplies for Birr.10, 000 and paid Birr.1, 000 as VAT on import.
    For this purpose it is assumed that the firm pays Birr 15, 000 compensation to workers,
    pays Birr 3, 000 in interest and rent expenses and has Birr 4, 000 as a profit for VAT
    purposes.

    Required:
    With a 10% VAT rate, compute the firm's net VAT liability for the period.

    Stay Safe!

    Page 2 of 2

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