Company has earned an income of RO 120,000 in the tax year 2019. In the year 2017 and 2018 company has incurred the loss of RO 15,000 and RO 25,000 which is so far not claimed for set-off from the succeeding year's incomes. It is assumed that it has registered capital more than RO 50,000. Which one of the following is the tax liability for the year 2019 as per Oman tax laws? O a. None of the options O b. RO 12,000 O c. RO 40,000 O d. RO 15,000
Company has earned an income of RO 120,000 in the tax year 2019. In the year 2017 and 2018 company has incurred the loss of RO 15,000 and RO 25,000 which is so far not claimed for set-off from the succeeding year's incomes. It is assumed that it has registered capital more than RO 50,000. Which one of the following is the tax liability for the year 2019 as per Oman tax laws? O a. None of the options O b. RO 12,000 O c. RO 40,000 O d. RO 15,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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15-A Company has earned an income of RO 120,000 in the tax year 2019. In the year 2017 and 2018 company has incurred the loss of RO 15,000 and RO 25,000 which is so far not claimed for set-off from the succeeding year's incomes. It is assumed that it has registered capital more than RO 50,000. Which one of the following is the tax liability for the year 2019 as per Oman tax laws? O a. None of the options
O b. RO 12,000
O c. RO 40,000
O d. RO 15,000
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