Calculate the zakat amount due for the year

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Reference no: EM132641106

The company annual report provided answer the followings:

Question 1: Gulf Company to pay Zakat or tax for the fiscal year 2019, explain the reasons

Question 2: Calculate the zakat amount due for the year 2019 (if applicable)

Question 3: Calculate the Tax amount due for the year 2019 (if applicable)

Question 4: Is Gulf Company required to pay advance payments of tax during the fiscal year 2020? Explain

Question 5: Are there any penalties that Gulf Company must pay to GAZT related to the fiscal year 2019? Calculate the penalties if applicable

Reference no: EM132641106

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