Egyptian E-Learning University

Course File Content

2016 / 2017

This document describes in details the content of the course file. This content
required and its format for the courses that are on offer in 2016 / at the Egyptian E-
learning University. Lecturers of all subjects are required to deliver these course files
during semester first week to the head of the program they are teaching in. Please use
this template for producing your course file and submit it.

When you fill this template remove any instructions written to help you fill the
template and only keep the text that you like to appear in the course file content.

Course files will be subject to peer reviews by members of staff at EELU. Peer
reviewers will also fill the included checklist to declare their opinion and evaluation
of the course file content. They will also be handed to TAs for their information to be
used as reference manuals for the courses by the lecturers, EELU staff and TAs.
Appropriate parts of the course file will also be compiled and published to the
students as orientation documents for the course.

Effort should be done to ensure that the course file content is FULLY
consistent with the Student Guide and the Instructor Guide whenever such documents
exist.
 Course File Checklist
Course Code
Course Name Tax Accounting
Prepared by …
Course File Checklist – Please check that all the items are checked.
Cover Page
Course code [ ]
Course title [Tax Accounting ]
Instructor's name [Dr. Mohammed El-Deeb ]
Teaching assistants names and locations [Noran Ehab ]
Academic year [2016/2017 ]
Semester [ ]
Course Overview
Course Overview is included [√
]
Course Overview is consistent with the e-Course and the charter ‫الالئحة‬ [
√]
Course Objectives
Course Objectives are included [√ ]
Course Objectives are clear and understandable [ ]
Course Overview are consistent with the e-Course and the charter ‫الالئحة‬ [√
]
Course Syllabus
Course Syllabus is included [√
]
Modules are divided to subtopics and the time for each topic is specified [√
]
Course Syllabus is consistent with the e-Course and the charter ‫الالئحة‬ [√
]
Course Calendar
Course Calendar is included [√
]
Course Calendar is consistent with EELU calendar [√
]
Course Calendar includes the specific dates for course work [√
]
Coursework (Assignments / Exercises / Quizzes / Lab Exams)
All pieces of course work are included [√
]
All pieces of course work are clear and suitable to the students' level [√
]
Each piece of course work has its announcement and submission dates [√
]
Each piece of course work has its weight and assessment criteria [√
]
Course Labs / Sections
 Labs / Sections are enough to cover the whole course [√
]
They match and achieve the course objectives [√
]
They give clear instruction to the TAs of what to do and to the students s of
what is needed from them [√
]
Course Midterm
The midterm outline is included [√
]
E-course evaluation
[√
]

Egyptian eLearning University

Course File

Tax Accounting
Dr. Mohammed El-Deeb

Teaching Assistants
Assiut: Noran Ehab
(Centralized Taken Course)
aizzat@eelu.edu.eg
Tanta Center: Noran Ehab
agazia@eelu.edu.eg
(Responsible for Tanta Center students Attendance lec. And Quizzes)

Ain Shams Center: Noran Ehab

rzaki@eelu.edu.eg
(Responsible for Ain Shams Center students Attendance lec. And Quizzes)
 2016 / 2017

Fall Semester
 Table of Content

Course Overview ................................................................................................. xx

Course Objectives .............................................................................................. xx

Course Syllabus .................................................................................................. xx

Course Calendar ................................................................................................ xx

Coursework (Assignments / Exercises / Quizzes / Lab Exams) ..................... xx

Course Labs / Sections ....................................................................................... xx

Course Midterm .................................................................................................. xx

I. Course Overview
This course overview should be written using the charter ‫الالئحة‬, eCourse and
instructor's guide. It should describe:
1. What the course is about
2. The number of credits of this course\
3. The instructor of the course
4. The TAs of the course and their emails
5. The mode of teaching of the course (e.g., a weekly lecture, a bi-weekly face-
face section or lab, a bi-weekly virtual classroom sections, labs, self-paced
eContent, weekly virtual classroom office hours, etc.)
6. The method of assessment and the weights. Remember that it was approved
that student evaluation will be according to the following scheme:
Midterm (in week 8) 20%
Coursework (Assignment, Exercises, Labs, etc.) 20%
Attendance (Participation, both electronic and physical) 10%
Final Exam 50%
The instructor distributes the mark of the coursework as he sees appropriate
for the subject he is teaching. For 3 credit courses, the weekly plan includes 6
hours of workload distributed as follows:
Type Time (hrs) Rate Mode of Delivery Leader
1.5 Biweekly Face-to-Face via Video Instructor
Lecture Conference
1.5 Biweekly Recorded Video Lecture Instructor
Section / 1.5 Biweekly Face-to-Face in Class TA
Lab 1.5 Biweekly Virtual Class TA
Self- 3 Weekly eLearning through the Student
paced Learning Management
eLearning System (LMS)
Total 6

7. The expected workload of the student (number of hours required from the
student, both in EELU-related activities and in self-study)
8. The required textbook and any other supplementary materials.
II. Course Objectives
This course overview should be written using the charter ‫الالئحة‬, eCourse and
instructor's guide. An example is given below:

1. Overall aims of course:

By the end of the course students should be able to
1. Demonstrate knowledge of the basic skills of reading, writing, listening, and,
to some extent, speaking.
2. Express their ideas in proper, clear, and simple English.
3. Develop their fluency in oral contexts.
4. Employ an enriched inventory of vocabulary.
5. Develop grammatical accuracy, and learn grammatical patterns and tenses.

2 . Intended Learning Outcomes (ILOs):

Cognitive Skills:
By the end of this course students should be able to:
1. Read in order to understand the main ideas of the passage.
2. Memorize vocabulary related to various topics.
3. Define a thesis statement.
4. Define an introductory paragraph of an essay.
5. Define body paragraphs of an essay.
6. Recognize elements of a well written essay.
7. Understand the difference between revising and editing a text.
Intellectual Skills:
By the end of this course students should be able to:
1. Read in order to understand the main ideas of the passage.
2. Memorize vocabulary related to various topics.
3. Define an introductory paragraph of an essay.
4. Recognize elements of a well written essay.
5. Understand the difference between revising and editing a text.
Professional and Practical Skills:
By the end of this course students should be able to:
1. Collect a glossary of English words concerning various topics.
2. Consult different electronic forms of the WordNet.
General and Transferable Skills:
By the end of this course students should be able to:
1. Use the internet and the electronic mail to interact with others.
2. Write an outline.
3. Write various essays, memoranda, reports and a covering letter.
4. Present their ideas using correct English.
5. Control and manage their time through setting aims, targets, objectives and
planning to meet them with a deadline.
I. Course Overview

The main aim of this course is to present analysis of the tax laws as they
affect the business enterprise. The course is divided into two related parts.
The first part introduces general tax concepts that are expected to be
helpful in understanding taxation in general. The second part discusses
the Egyptian taxes and offers a more detailed look at the tax laws and
practice and their effect on business decisions.
No. of credit hours: 3cr.
Instructor: Dr. Mohammed ElDeeb email: meldeeb@eelu.edu.eg
Teaching Assistant: Ayten Ali email: aizzat@eelu.edu.eg
Teaching mode: weekly lecture, bi-weekly face-face section, bi-weekly virtual section, office
hours.
Assessment method and the weights:
- Midterm (in week 7) 20 %
- Coursework (Assignment, Quiz) 20 %
- Attendance (Participation, both electronic and physical) 10 %
- Final Exam 50 %
Course material:
Text book: Text book: Hassan Abou-Zeid, Tahseen Alshazli and Galal Melwai;
Tax Accounting, Cairo, Egypt, 2014
List of supplementary material and Web Links
1. Kamal Mohamed, Tax Accouning in Egypt, Cairo, Egypt, 2013
2. Income tax law No.91 , year 2005, modified by law No.53, year 2014
Online course:
Virtual classroom: http://wcl.eelu.edu.eg/wps/portal
My Places: http://wiki.eelu.edu.eg/places
 II. Course Objectives
After completing this course, students will be able to:

Distinguish between direct taxes on income and indirect taxes on

expenditure and transactions.
Calculate and evaluate income tax.
Determine the taxable income for an individual and corporations.
Understand the different tax systems in other countries.
Calculate the taxable income under the salaries and the like tax
in Egypt.

III. Course Syllabus

No. of Hours
Module 1: Introduction about tax system 6.5
Lesson 01: Definition of taxation 1.5
Lesson 02: Nature and characteristics of Taxes 1
Lesson 03: Need for Taxation 1
Lesson 04: Types of taxes 1
Lesson 05: Evolution of Egyptian Income tax system 1
Lesson 06: The main features of the tax law No.91, year 2005
1
along with its latest modifications
Module 3: Salaries and The Like tax 6
Lesson 01: Taxable Revenues 2
Lesson 02: Tax Bracket Determination 1
Lesson 03: Tax Exemptions 1
Lesson 04: Tax rate and Tax Calculation 1
Lesson 05: Tax Reconciliation 1
Module 4: Tax on Revenues of Commercial and Industrial
4
Activities
Lesson 01: Introduction 0.5
Lesson 02: Taxable income 0.5
Lesson 03: Tax Bracket Determination 0.5
Lesson 04: Tax Exemptions 0.5
Module 5: Tax on revenues of Non-Commercial Professions 4
Lesson 01: Introduction 0.5
Lesson 02: Taxable Revenues 0.5
Lesson 03: Tax Bracket Determination 0.5
Lesson 04: Tax Exemptions 0.5
 IV. Course Calendar

Week # Module # Topics Assignment # Lab # Quiz #

1 Adha Vacation
2 1 Lesson (1,2,3) - 2 -
3 1 Lesson (4,5,6) 1 3 -
4 3 Lesson (1) - 4 -
5 3 Lesson (2,3) - 5 1
6 3 Lesson (4,5) 2 5
7 Mid-Term Exam
8 4 Lesson (1,2) - 7 -
9 4 Lesson (3) 3 9 -
10 4 Lesson (4) - 10 -
11 5 Lesson (1,2) - 11 2
12 5 Lesson (3) 4 12 -
13 5 Lesson (4) - 13 -
14
15 Second Mid-Term Exam
16 Final Exam
V. Coursework (Assignments / Exercises / Quizzes / Lab Exams)

Assignment 1
Answer the following question:
1-define tax?
2- Whatarethe basic conditions that should be exist in
good tax system?

True or false:
1-in developing countries, tax incentives such as reduced tax
rates.

2-Vertical equity means that taxpayers in similar financial

Condition should pay similar amounts in taxes.

3- Adequacymeans that taxes must provide enough revenue to

meet the basic needs of society.

4-transparency means that taxpayers and leaders can hardly

find information about the tax system and how tax money is
used.

5-The cost of collecting a tax should be very small in relation to

the amount collected.

6-Taxis considered indirect if it is possible to transfer its burden

to another person.
 Assignment 2

True or false
1. The tax applies to salaries and the like as for all earnings by ataxpayer resulting from work
for third parties, with or without acontract, on a regular or irregular basis.

2. Law No.91, year 2005 is stating the duration for calculating the taxbase under the salaries
and the like tax law is for each part of ayear in which any taxable revenue was earned in
proportion to aYear.

3. The tax applies to salaries and the like as for all earnings by ataxpayer resulting from work
for third parties, without a contract, onirregular basis.

4. Wages, salaries, and tips are compensation for services rendered.However, commissions,
bonuses, and severance pay are nottaxable

5. Taxpayers normally pay their tax liability when they file their incometax return

6. If a change occurs in the taxable base, the calculation of the baseshall be adjusted from
the date of change based on the new or oldbase, whichever is less, after transferring such to
annual revenue.

7. Law no.91/2005 introduced new system of Withholding, Collection andAdvance Tax

Payments

8. Law no.53/2014 raised the upper limit of the exemptions for theprivate fund subscriptions

9. Law no.53/2014 Imposed tax on Earnings due to the taxpayer froma foreign source for
works performed in Egypt

10. Under salaries and the like tax, Salaries and remunerations of chairmenand members of
the boards of directors in the public sector companies andthe public business sector
companies, who are not shareholders, aretaxable.
 Assignment3

True or false: Question one:

The following are data about a sole enterprise for the year 2012:

(1) Accounting net profit 44000.

(2) Employees’ salaries paid 7700 related to 11 months.

(3) The owner’s son salary 2500, he works in the business as accountant, & Owners
salary 3000.

(4) Rent paid 3500 includes deposit equivalent to the rent of 2 months.

(5) Depreciation includes depreciation of the equipments with 720 L.E by the rate
40%.

(6) Contributions include 1500 for government, 700 for poor people, 300 for wafaa &
Amal charity.

(7) Income tax on profit paid 1200

* Required: Determine the income tax bracket.

Question Two:

Juhayna Dairy Products Corporation (JDP) is a calendar-year taxpayer that produces

dairy products. The company’s net income for 2010 is L.E. 2,100,000. Close
inspection of the income statement, sales and purchase invoices, and other supporting
documents revealed the following:

a) Sales discounts taken by customers amounting to L.E.16,000 was recorded twice

due to the application of a new information system in 2010.

b) Physical inspections by Ministry of Health officials revealed that 2,500 units of the
1 Liter milk packs product line passed their expiry dates and must be destroyed. JDP
contested this government decision and included the cost of these items in 2010
inventory at L.E.5 each.

c) Goods withdrawn by the owner for personal consumption had a sales value of
L.E.7,000 and a cost of L.E.5,000.

Faculty of Business Administration Year:2016-2017(Fall 2016 ) Student

name:………………..….……… Student Code:……..………….…………

Course Name: Tax Accounting (1)

Assignment(03)
Course code: ACC303

Instructor: Dr. Mohamed Eldeeb

Teaching Assistant: Nouran Abdelgawad Date: Nov.26th , 2016 Due Date: Dec.1st ,
2016 Assignment Points: (10 points)

d) Purchase returns at the value of L.E. 50,000 were made during 2010 but not
recorded. The purchases are related to dairy products purchased from Dina Farms in
2009 for which JDP received Invoice# DF-301. JDP believes the cost of returns is
related to 2009 and requests refund from the tax agency.

e) Transportation costs of L.E.7,000 incurred by JDP for outgoing sales under terms
“F.O.B. Destination” were not recorded.

* Required: Determine JDP’s taxable income for 2010.

 Assignment 4

True or false: Question one:

A physician has a private clinic in Cairo; he has not regular records and the following
are his data about the year 2013:

* Revenues of the profession in Egypt 25000, net gains from selling part of the clinic
8000, net gains of disposal of X - Ray machine 3000, he paid contributions to
government 2000 and to Al Helal AL Ahmar Almasry charity 2900, subscription of
life insurance monthly 200, annual subscription to the syndicate for pensions system
1300.

Required: The tax bracket

Question Two:

An accountant works in his own office in Cairo has regular records; the following are
his data about the year 2013:

* Revenues : 14000 Auditing revenues, 5000 design accounting systems revenue,

3000 prepare tax returns revenue, 6000 consulting in Libya revenue, 14400 consulting
fees , 600 net gains from selling computer.

* Expenses : 2800 Rent , 12900 wages, 1500 stationary , 800 subscription in

accounting magazines, 400 subscription in accountants association , 6000 other
necessary expenses, 2800 contributions to government, 1700 contributions to AL
Nour waALAmal ALMasria charity, 300 contributions to poor people , 1600 life
insurance in favor of his wife, 600 paid to the syndicate for pensions system.

* His loss last year was 1500.

Required: Calculate the tax amount.

 Quiz 1

True or false:

1. In developing countries, tax incentives are used to encourage both domestic and
foreign investments
2. Tax is a cash levy collected by the State from individuals and establishments
3. Vertical equity means that taxpayers in similar financial Condition should pay similar
amounts in taxes.
4. Adequacy means that taxes must provide enough revenue to meet the basic needs
of society.
5. Transparency means that taxpayers and leaders can hardly find information about
the tax system and how tax money is used.
6. The cost of collecting a tax should be very small in relation to the amount collected.
7. Citizens often connect taxes with what they accomplish for the public good.
8. In-kind taxes considered the respective tax-payer's payment capability and allow
him some exemptions
9. Personal taxes considered the respective tax-payer's payment capability and allow
him some exemptions
10. Unified taxes is imposed on total incomes (or expenditure) regards their sources, at
a unified rate
11. Taxis considered indirect if it is possible to transfer its burden to another person.
12. Tax is considered as being direct if the person who bears its charge is the one who
pay the tax.
13. Taxes are the most important, and the most visible, source for funding government
in Egypt
14. A tax system meets the test of adequacy if it provides enough revenue to meet the
demand for public services
15. Fairness, or equity, means that everybody should pay a fair share of taxes.
 Quiz 2

True or false:
1-The taxable net profit of the establishment shall be determined on all long-
term contracts it is committed to, on the basis of the percentage executed of
each contract during the fiscal period (√)
2-The legislator imposed the tax on profits emanating from transport activity of
all types including land, sea, air, and any other transport (√)
3-Personal expenses are those expenses that satisfying personal needs such as
food, cloth, shelter, etc, which are related to the trade or business. (X)
4-An expense is ordinary if it is normally incurred in the type of business in
which the taxpayer is involved. (√)
5- An expense is necessary if it is appropriate, helpful, or capable of making a
contribution to the tax payers personal activities. (X)
6- Deductible expenses has to be true and supported documentarily, with the
exception of the expenses and costs that are not customarily established by
documents. (√)
7- Interests which are due on the firm because of its dealings and transactions
with external parties, and whatever loans it may contract in relation to its
own activity are considered as costs deductible when determining taxable
income of the firm, as long as they supported by documents (√)
8- The real depreciation expense which occurred within the framework of
what is applicable in practice according to the customs and the nature of each
industry, trade or work is a deductible expense (√)
9-Direct taxes paid by the tax-payer with the exception of the tax which he
disburses according to this law (√)
10- Donations paid to the Government, local administration units, and public
authorities whatever may be their amounts is a deductible expense (√)
 Quiz 3

Answer the following questions:

True or False:

1. At high levels of taxable income, the average tax rate and the marginal tax rate will
be the same.

2. The amount of tax liability is affected by the filing status of the taxpayer.

3. Indirect taxes are taxes on spending.

4. Direct taxes are charged on income, profits or other gains and are either deducted at
source or paid directly to the tax authorities.

5. The main direct tax payable by individuals is corporation tax.

M.C.Q:

1. The major types of taxes in Egypt include:

a) Personal income tax

b) Stamp tax

c) Sales tax

d) All of the above

2. -------------------- are taxes, wherein the rate escalates with the increase in the
taxable amount.

a) proportional-rate taxes

b) Progressive taxes

c) Personal taxes

d) Direct tax

3. The tax is considered as ------------if the tax-payer's personal circumstances are not
taken into consideration, and is imposed on his total income regardless any expenses

a. Personal taxes
b. Direct tax

c. Qualitative Taxes

d. In-kind taxes

4. A good tax system should meet four basic conditions:

a. Fairness.

b. Adequacy.

c. Transparency.

d. All of the above

5. The major type of the variable wages are:

a) Overtime wages.

b) Incentives.

c) Social increments.

d) All of the above

VII. Course Midterm Exam
1. to the original work
Egyptian E-Learning University

Faculty of Management

Mid-term Exam –Fall 2016 Module Title: Tax Accounting 1

Dr.Mohamed ElDeeb

Answer the following questions:

Question One: (5
Marks)
State whether each of the following statements are (True) or (False):

2. The individual income tax system is an example of a progressive tax

rate structure.
3. A proportional tax rate structure is a tax where the tax rate remains
at the same rate regardless of the tax base.
4. Law No.91, year 2005 is stating the duration for calculating the
tax base under the salaries and the like tax law is for each part
of a year in which any taxable revenue was earned in
proportion to a year.
5. The tax applies to salaries and the like as for all earnings by a
taxpayer resulting from work for third parties, without a
contract, on irregular basis.
6. Wages, salaries, and tips are compensation for services
rendered. However, commissions, bonuses, and severance
pay are not taxable
7. In developing countries, tax incentives such as tax holidays, reduced
tax rates, etc. are used to encourage both domestic and foreign
investments.

8. Fairness, or equity, means that everybody should pay a fair share

of taxes
 9. Administrative ease means that the tax system is not too
complicated or costly for either taxpayers or tax collectors
10.Taxes are the least important, and the most visible, source for
funding government in Egypt and elsewhere
11. The term “Bonuses” means those amounts paid to workers and
employees, in excess of salary or wage, in return for performing some
additional work, which are considered as complementary to the
original work

Question Two: Multiple choice questions: (5 Marks)

1. Taxes apply to total net income realized in Egypt by taxpayer are:

a) Salaries and the like

b) Revenues of Non-Commercial Professions
c) Revenues of Commercial and Industrial Activity
d) All of the above

2. A natural person is not an Egyptian resident, in any of the following

cases
a) If having permanent residency in Egypt.
b) If residing in Egypt for more than 183 continuous or
intermittent days within twelve months.
c) An Egyptian working abroad, and receiving income from an
Egyptian treasury.
d) An Egyptian working abroad, and not receiving income from
an Egyptian treasury

3. A legal person is deemed a resident of Egypt in any of the following

cases except for:
a) If not established according to Egyptian law.
b) If its main or effective managing headquarters is in Egypt.
c) If its a corporation in which the state or any state-owned legal
person hold more than 50% of its capital.
d) All of the above
4. For the in-kind benefits we have to note that the law has stipulated
some estimations for the following in-kind benefits:
a) Company motor cars put at full personal disposal of the
employee
b) Cellphones (Mobiles)
c) Loan and debts rendered by employer
d) All of the above

5. Which of the following fringe benefits is exempted under salaries

and the like tax:
a) Meal provided that it should be delivered on work site to the
work.
b) Collective transportation of workers or equivalent
transportation cost, owned or rented.
c) Health or medical care.
d) All of the above

6. The tax on the income of natural persons grants the tax – payer an
exemption to face the minimum limit of the cost of living and family
charges:
a) L.E. 6500
b) L.E. 5500
c) L.E. 6000
d) L.E. 12000

7. A good tax system should meet five basic conditions:

a. Fairness.
b. Adequacy.
c. Transparency.
d. All of the above

8. There are two important concepts of equity:

a. horizontal equity and vertical equity

b. Adequacy and Transparency
c. horizontal equity and Adequacy
d. None of the above.
 9. Tax is considered as being ---------if the person who bears its charge is
the one who pays the tax:
a. Indirect tax
b. Direct tax
c. Qualitative Taxes
d. Unified taxe

10. Taxes are considered as being ------------ if imposed on each kind of

income (or expenditure) as an independent tax separately
a. Indirect tax
b. Direct tax
c. Qualitative Taxes
d. Unified taxes

Question Three (10 Marks)

Ms. Sarah Kadry is an employee in a private sector company. She received the following
monthly amounts during 2015:

L.E. 1,800 basic salary (of which L.E. 100 is a special increment).

L.E. 210 special increment not added to her basic salary.

L.E. 200 attendance allowance (for occasionally attending board meetings as a

monitor; Sarah is not a board member).

On March 14, she received a L.E. 5,000 “Excellence in Service” award.

Additional Information:

Sarah pays L.E. 100 of monthly insurance premium (son being the beneficiary) and has no
other sources of income.

Required:

a. Compute the monthly tax due.

b. Compute the tax due on the incentive bonus.

Best Wishes.
VIII. Course Final term Exam

Egyptian E-Learning University

Faculty of Management

Final-term Exam –Fall 2016 Module Title: Tax Accounting 1

Dr.Mohamed El-Deeb

Answer the following questions:

Question One: (10 Marks)
State whether each of the following statements are (True) or (False):

1. Under Tax on revenues of Non-Commercial Professions the

profession or the activity must be based fundamentally, on work
element.
2. By independence in practicing the profession, it is meant that the
party in whose name the tax will be assessed and fixed practice
his professional activity for his own personal account.
3. Taxation of professional income is based on income generated
from practicing the profession outside Egypt.
4. Gain realized on sale or disposal of fixed assets used in the
practice of the profession is taxable.
5. For income of a professional activity to be taxable as such, the
activity must be provided on a regular basis by the professional
and must carry the intention of realizing profit.

6. Profits from the leasing of a commercial or industrial shop, whether

the lease includes all or part of its tangible or intangible elements are
not subject to taxation.
7. Profits from all kinds of transportation activity is subject to tax.
 8. Profits by those engaged in the construction or purchase of real
property with the intention of selling them professionally are subject
to taxation.
9. Profits from land parceling operations whether for sale or
construction is subject to taxation.
10. This tax is imposed on net profits realized during the year, resulting
from any industrial or commercial activity except for the one sole
transaction.

Question Two: (20 Marks)

The following are data about a sole enterprise for the year 2015 :
(1) Accounting net profit 44000.
(2) Employees salaries paid 7700 related to 11 months .
(3) The owners son salary 2500 , he works in the business as
accountant, & Owners salary 3000.
(4) Rent paid 3500 includes deposit equivalent to the rent of 2
months .
(5) Depreciation includes depreciation of the equipments with
720 L.E by the rate 30% .
(6) Contributions includes 1500 for government, 700 for poor
people, 300 for wafaa & Amal charity .
(7) Income tax on profit paid 1200

Required :
Determine the income taxable income.

Question Three (20Marks)

An accountant works in his own office in Cairo has regular records, the
following are his data about the year 2015 :

- Revenues : 14000 Auditing revenues, 5000 design accounting

systems revenue, 3000 prepare tax returns revenue, 6000
consulting in Libya revenue, 14400 consulting fees , 600 net gains
from selling computer .
- Expenses : 2800 Rent , 12900 wages, 1500 stationary , 800
subscription in accounting magazines, 400 subscription in
accountants association , 6000 other necessary expenses, 2800
contributions to government, 1700 contributions to AL
NourwaALAmalALMasria charity, 300 contributions to poor people
, 1600 life insurance in favor of his wife, 600 paid to the syndicate
for pensions system .
- His loss last year was 1500 .

Required :

Calculate the taxable income.

Best Wishes.