According to the Turkish tax legislation, there are two main types of tax statuses regulated on the basis of residence: resident taxpayers and non-resident taxpayers. Individual income tax rates applicable on resident taxpayers for 2018 - 2019 are as follows:Income Scales (TRY)Rate (%)Up to 14,8001514,801 - 34,0002034,001 - 120,00027120,001 and over35 Create a Mathematical Model that represents the aforementioned information to calculate the annual income tax.How much annual income tax you will have to pay if your monthly taxable income is TRY 9,000.

The company's income statement is prepared for arriving at the profits generated by the company…

Answered: According to the Turkish tax…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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According to the Turkish tax legislation, there are two main types of tax statuses regulated on the basis of residence: resident taxpayers and non-resident taxpayers. Individual income tax rates applicable on resident taxpayers for 2018 - 2019 are as follows:

Income Scales (TRY)	Rate (%)
Up to 14,800	15
14,801 - 34,000	20
34,001 - 120,000	27
120,001 and over	35

Create a Mathematical Model that represents the aforementioned information to calculate the annual income tax.
How much annual income tax you will have to pay if your monthly taxable income is TRY 9,000.

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