Tax payable = 5000 cars × 8000 yuan / car × 5% = 20million yuan For the taxable consumer goods produced from tax-paid consumer goods purchased or co ntract-processed by the taxpayers(such as the cigarettes produced from the tax-pai d cut tobacco purchased or contract-processed,the cosmeti...
Q: How to compute the Business Tax payable? A:For taxpayers providing taxable services,transferring intangible assets or sellin g immovable properties,the Business Tax payable shall be computed on the basis of th e turnover and the applicable tax rate. The formula for computing the tax payable ...
To compute income tax with payroll management, determine what proportion of the employee’s gross compensation is taxed. Always compute income tax on a gross pay basis. In India, different tax slabs correlate to different gross salaries earned. The lowest income tax bracket is 5%, while the hig...
Add in other income your business received besides the sale of goods and services. This can include interest on a loan, awards and prizes, legal settlements, investment income, tax credits and bad debts you finally collected. Adding this income to the previous figure gives you gross income, wh...
Computing for Tax Payable After calculating your taxable income, you will need to refer to the tax table below for your tax dues. Did you know that you can use Taxumo to automatically calculate your tax dues already? No need for you to compute manually. Sign up for FREE here to learn ...
Average Tax Rate:The average tax rate is a measure of, on average, what percentage of an individuals total taxable income is being paid in taxes. It is calculated by dividing the total tax paid by the total taxable income.Answer and Explanation: ...
Compute the interest expense for bonds issued at a discount to par, meaning the issuing price is less than the par value. This occurs when the prevailing market interest rate is greater than the coupon rate. The straight-line method amortizes this discount equally over the life of the bond....
A small business accounting guide to operating cash flow: what it is, why it's important, and how to use it in your bookkeeping.
of handwoven silk fabric valued at US$1000 from Thailand to the US, and you've spent US$200 on insurance and US$300 on freight charges, the declared value would be US$1500. This is the total CIF value. It is this amount that customs will use to compute the payable...
However, a company’s real earning capability cannot be assessed by the EPS figure for one accounting period. Investors should compute the company’s EPS for several years and compare them with the EPS figures of other similar companies to select the most appropriate investment option. ...