This quiz works best with JavaScript enabled. Home > Taxation > Tax Planning > Tax Planning – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Tax Planning Quiz 1 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 9-Return on investment > rate of interest, ..... funds may be used in capital structure. A) Minimum Debt Fund. B) Maximum Debt Fund. C) Minimum Equity Fund. D) Maximum Equity Fund. Show Answer Correct Answer: B) Maximum Debt Fund. 2. How can individuals reduce their tax liability through financial decisions? A) By making random decisions. B) By not considering taxes. C) By making smart financial decisions. D) By ignoring their financial situation. Show Answer Correct Answer: C) By making smart financial decisions. 3. Business asset disposal relief is currently available on gains up to a lifetime limit of ..... A) £ 2 million. B) £ 5 million. C) £ 10million. D) £ 1million. Show Answer Correct Answer: D) £ 1million. 4. Indonesian Minister of Forestry A) Siti nurbaya baked. B) Nila Moeloek. C) Sofyan Djalil. D) Bambang Brodjonegoro. Show Answer Correct Answer: A) Siti nurbaya baked. 5. In partnership, firm can pay interest on capital and loan to partners at the maximum rate of ..... p.a A) 10%. B) 11%. C) 12%. D) 13%. Show Answer Correct Answer: C) 12%. 6. 1-An application for advance ruling cannot be made by the applicant who is non-resident. A) True. B) False. Show Answer Correct Answer: B) False. 7. The rate and basis for imposition of Tax on Construction Implementation tax objects (Small Business Qualification-PPh article 4 paragraph 2) is A) 2% and total payment/receipt of payment/part of the value of construction services. B) 3% and and Amount of payment/receipt of payment/part of the value of construction services. C) 2 % and and Gross circulation. D) 4% and and Amount of payment/receipt of payment/part of the value of construction services. Show Answer Correct Answer: A) 2% and total payment/receipt of payment/part of the value of construction services. 8. 2-A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called ..... A) Domestic Company. B) Foreign Company. C) Public sector company. D) Provincial company. Show Answer Correct Answer: B) Foreign Company. 9. What is the purpose of tax donations? A) To increase taxable income. B) To decrease taxable income. C) To support social welfare and development. D) To avoid taxes. Show Answer Correct Answer: A) To increase taxable income. 10. What can you claim a deduction for regarding tax donations in Malaysia? A) Gifts to any organization. B) Assets given to friends. C) Donations to non approved instituitions. D) Money given to politicians. Show Answer Correct Answer: B) Assets given to friends. 11. What is the purpose of tax planning A) To increase tax liability. B) To avoid taxes completely. C) To maximize tax savings. D) To double tax payments. Show Answer Correct Answer: C) To maximize tax savings. 12. 8-Concealment of income or false claims to reduce tax liability are cases of ..... A) Tax evasion. B) Tax planning. C) Tax avoidance. D) Tax management. Show Answer Correct Answer: A) Tax evasion. 13. Not recognizing realized income is a(n): A) Form of tax evasion unless Congress has specifically allowed it. B) Effective tax-planning strategy. C) Form of tax avoidance. D) Form of tax avoidance, and effective tax-planning strategy, and a form of tax evasion unless Congress has specifically allowed it. Show Answer Correct Answer: D) Form of tax avoidance, and effective tax-planning strategy, and a form of tax evasion unless Congress has specifically allowed it. 14. Formal Requirements for Crediting Input Tax Invoices A) It is not filled in completely, clearly and correctly and is signed by the party appointed by the PKP. B) Contains actual or actual information regarding a transaction. C) It has been charged as a fee. D) Created within 3 months of the FP creation deadline. Show Answer Correct Answer: D) Created within 3 months of the FP creation deadline. 15. What qualifies for personal reliefs? A) Medical expenses that are necessary for the treatment for diseases. B) Medical expenses for a spa treatment. C) Medical expenses for cosmetic surgery. D) Medical expenses for a vacation. Show Answer Correct Answer: A) Medical expenses that are necessary for the treatment for diseases. 16. The amount of PPh 21 Allowance when the Taxable Income of an officer is Rp4.556.940.000, 00? A) 176.200.000, 00. B) 156.200.000, 00. C) 165.200.000, 00. D) 186.200.000, 00. Show Answer Correct Answer: B) 156.200.000, 00. 17. Sec 80C applies on A) Company. B) Firm. C) Individual and HUF. D) Co-operative society. Show Answer Correct Answer: C) Individual and HUF. 18. Location of the new business include A) Industrial undertaking in free trade zones (section 10 A). B) 100% export oriented undertaking (section 10 B). C) Industrial undertaking in industrial backward state & district (section 80 IB). D) All the above. Show Answer Correct Answer: D) All the above. 19. What are tax deductibles? A) Expenses that reduce your taxable income. B) Expenses that increase your tax liability. C) Expenses that are not allowed. D) Expenses that double your tax. Show Answer Correct Answer: A) Expenses that reduce your taxable income. 20. An American citizen cannot be a resident of Malaysia A) True. B) False. Show Answer Correct Answer: B) False. Next →Related QuizzesTaxation QuizzesTax Planning Quiz 2Tax Planning Quiz 3Tax Planning Quiz 4Tax Planning Quiz 5Tax Planning Quiz 6Tax Planning Quiz 7Tax Planning Quiz 8Tax Planning Quiz 9Tax Planning Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books