Corporate taxes Southern Textile Ltd. is a manufacturer of sportswear that supplies to a number of European retail stores. Its registered office is in Singapore. During 2017, the firm earned SGD 112,000 before taxes. Singapore's corporate tax rate is 20%. Firms are eligible for a tax rebate of 50% of the tax amount, capped to a maximum amount of SGD 10,000 every year on their tax liability. a. Calculate the firm's tax liability using Singapore's corporate tax rates. b. How much are Southern Textile's 2017 after tax earnings? c. Calculate the firm's average tax rate. a. The firm's tax liability using Singapore's corporate tax rates is SGD- (Round to the nearest dollar.)
Corporate taxes Southern Textile Ltd. is a manufacturer of sportswear that supplies to a number of European retail stores. Its registered office is in Singapore. During 2017, the firm earned SGD 112,000 before taxes. Singapore's corporate tax rate is 20%. Firms are eligible for a tax rebate of 50% of the tax amount, capped to a maximum amount of SGD 10,000 every year on their tax liability. a. Calculate the firm's tax liability using Singapore's corporate tax rates. b. How much are Southern Textile's 2017 after tax earnings? c. Calculate the firm's average tax rate. a. The firm's tax liability using Singapore's corporate tax rates is SGD- (Round to the nearest dollar.)
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 19P
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