This quiz works best with JavaScript enabled. Home > Finance > Taxation > Tax Planning > Tax Planning – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Tax Planning Quiz 2 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Following are the needs of tax planning A) Reduction of tax liability. B) Reduction in cost. C) Economic stability. D) All the above. Show Answer Correct Answer: D) All the above. 2. Provisions regarding Tax Equalization are regulated in: A) Regulation of the Director General of Taxes Number PER-04/PJ/2014. B) Circular Letter of the Director General of Taxes Number SE-10/PJ/2017. C) Circular Letter of the Director General of Taxes Number SE-12/PJ/2017. D) Regulation of the Director General of Taxes Number PER-04/PJ/2020. Show Answer Correct Answer: B) Circular Letter of the Director General of Taxes Number SE-10/PJ/2017. 3. 9- "Arm's length price" means a price which is applied or proposed to be applied in a transaction between persons (other than associated enterprises) in ..... A) Controlled conditions. B) Uncontrolled conditions. C) Market conditions. D) None of the above. Show Answer Correct Answer: B) Uncontrolled conditions. 4. Director of Extensification and Assessment Djp A) Prayitno Aji Wind. B) Sihaloho Wind. C) Aprianto Wind. D) Wind Budianto tjatmiko. Show Answer Correct Answer: A) Prayitno Aji Wind. 5. Which Statement is True about the Destination Principle? A) Exports of Intangible BKP are not subject to VAT or are free from VAT. B) Exports of Intangible BKP are subject to a VAT rate of 0%. C) JKP exports are subject to VAT according to the applicable rates. D) Intangible BKP exports are subject to a VAT rate of 11%. Show Answer Correct Answer: B) Exports of Intangible BKP are subject to a VAT rate of 0%. 6. Tax avoidance aim ofPractice A) Saving of tax. B) Hedging of tax. C) Concealment of tax. D) Moral in nature. Show Answer Correct Answer: B) Hedging of tax. 7. Under section ..... is allow Special provisions in the case of business of plying, hiring or leasing goodscarriages. A) 44 BB. B) 44 AD. C) 44AE. D) 44 OF. Show Answer Correct Answer: C) 44AE. 8. The purpose of tax planning is to ensure ..... A) Tax return. B) Gst. C) Tax evasion. D) Tax efficiency. Show Answer Correct Answer: D) Tax efficiency. 9. In the case of profits and gains from certainindustrial undertaking other than infrastructure development undertaking come under A) Deduction u/s 80 IC. B) Deduction u/s 80IG. C) Deduction u/s 80 IB. D) Deduction u/s 80 IE. Show Answer Correct Answer: C) Deduction u/s 80 IB. 10. 6-Vice chairman of AAR( Authorities for Advance Ruling) shall be the judge of a A) District court. B) Court of Appeal. C) Supreme court. D) High court. Show Answer Correct Answer: D) High court. 11. For Government Employee ..... exemption to gratuity is applicable. A) 25%. B) 75%. C) 50%. D) 100%. Show Answer Correct Answer: D) 100%. 12. Nature of new business include A) Tea development account. B) Telecommunication service. C) Both of them. D) Only 'b' not 'a'. Show Answer Correct Answer: C) Both of them. 13. Adam operates a retail bottled drinks business. He calculates his closing stock based on 12, 000 bottles when he actually has 18, 000 bottles. It is an example of tax evasion A) False. B) True. Show Answer Correct Answer: B) True. 14. Payment of LIC premium can be claimed as deduction u/s ..... A) 80 CD. B) 80 CC. C) 80D. D) 80 C. Show Answer Correct Answer: D) 80 C. 15. 2-Transfer Price means the price, which is charged between- A) Two or more entities of a MNE [Associated Enterprises (AE' s)] operating in one country. B) Two or more entities of a MNE [Associated Enterprises (AE' s)] operating in different countries. C) Both A and B. D) Neither A nor B. Show Answer Correct Answer: B) Two or more entities of a MNE [Associated Enterprises (AE' s)] operating in different countries. 16. On the basis of residence, the company assesses are divided into how many categories? A) Three. B) Four. C) Five. D) Two. Show Answer Correct Answer: D) Two. 17. The rates and basis for taxation on dividend tax objects (PPh article 26) are A) 15 % and Gross Income. B) 20% and Gross Income. C) 2% and Gross Income does not include VAT. D) 7.5% and Gross Income. Show Answer Correct Answer: B) 20% and Gross Income. 18. What does the scope of taxation determine? A) Which car to buy. B) How much tax you should pay. C) Whether to invest in stocks. D) How to avoid paying taxes. Show Answer Correct Answer: B) How much tax you should pay. 19. What types of income are subject to progressive tax rates? A) Other income. B) Self employment income. C) Investment income. D) Employment income. Show Answer Correct Answer: D) Employment income. 20. In which year The Income Tax Act was came into force A) 1971. B) 1981. C) 1951. D) 1961. Show Answer Correct Answer: D) 1961. 21. What is taxable income? A) Income subject to tax. B) Income from any source. C) Income from investments. D) Income that not subject to tax. Show Answer Correct Answer: D) Income that not subject to tax. 22. At the end of the year, all objects of PPh Article 21 which are spread across cost accounts according to the general ledger are collected into one and compared with the calculation of PPh 21 for the December period. If there is a difference, what should be done if it is caused by permanent employee income? A) Carefully examine employee data. B) Examine the income groups for which tax has not been deducted. C) Check the employee's name. D) Examine the account holding BPJS contributions and ensure that old age insurance contributions are not included in the object of PPh article 21. Show Answer Correct Answer: D) Examine the account holding BPJS contributions and ensure that old age insurance contributions are not included in the object of PPh article 21. 23. The 12% VAT rate applies from? A) January 1, 2024. B) 1 April 2022. C) January 1, 2030. D) January 1, 2025. Show Answer Correct Answer: D) January 1, 2025. 24. ..... looks at future benefits out of presentactions A) Tax planning. B) Tax avoidance. C) Tax management. D) Tax evasion. Show Answer Correct Answer: A) Tax planning. 25. Tax planning is also relevant while deciding upon the ..... A) Exemption. B) Nature of business. C) Tax return. D) None of the above. Show Answer Correct Answer: B) Nature of business. 26. Tom sells 16, 500 ordinary £ 1 shares in ABC Ltd to John for £ 21.75 per share. What is the stamp duty due? A) £ 1, 795.00. B) £ 1, 790.00. C) £ 17, 944.00. D) £ 1, 794.38. Show Answer Correct Answer: A) £ 1, 795.00. 27. ....is a tax treaty signed between two or more countries to help taxpayers avoid paying double taxes on the same income. A) Double Tax Avoidance Agreement. B) Advance Ruling. C) Slump Sale. D) Refund. Show Answer Correct Answer: A) Double Tax Avoidance Agreement. 28. Sarah buys 25, 000 ordinary £ 1 shares in E PLC electronically (a paperless transaction) at a price of £ 5.73 per share on 23 August 2023. Calculate the Stamp Duty Reserve Tax due: A) £ 716.25. B) £ 7, 612.50. C) £ 720.00. D) £ 715.00. Show Answer Correct Answer: A) £ 716.25. 29. One of the reasons why Input Tax Invoices Cannot Be Credited? A) Obtaining BKP or JKP after being confirmed as PKP. B) Obtaining BKP or JKP is directly related to business activities. C) Utilization of BKP is Intangible after being confirmed as PKP. D) Obtaining BKP or JKP whose FP does not include the buyer's name, address and NPWP. Show Answer Correct Answer: D) Obtaining BKP or JKP whose FP does not include the buyer's name, address and NPWP. 30. What is the tax rate for self-employment income for non-resident individuals? A) 15%. B) 30%. C) 10%. D) 20%. Show Answer Correct Answer: B) 30%. ← PreviousNext →Related QuizzesTaxation QuizzesFinance QuizzesTax Planning Quiz 1Tax Planning Quiz 3Tax Planning Quiz 4Tax Planning Quiz 5Tax Planning Quiz 6Tax Planning Quiz 7 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books