Explain in detail tax avoidance and tax evasion

Assignment Help HR Management

Reference no: EM133407588

Questions:

1. Briefly explain the following terms related to taxation:

(a). Wholly (b). Exclusively

(c). Necessarily

2. Explain in detail, the four requirements for considering an individual a resident in Botswana.

3. By using latest tax tables, compare the personal income tax rates applicable to 'resident individual taxpayers' and 'non-resident taxpayers.

4 (a) Define 'Gross Income' in relation to Income tax.

(b). Mr. Senabe, is a senior teacher in a Senior Secondary School. He has received P15 000 as the best teacher of the year. In addition, Senabe was afforded a holiday in Maun valued at P5 000. During his stay at a Maun hotel, he played casino and won P500. You are required to discuss with reasons, which amounts must be included in Mr. Senabe's Gross Income.

5. Mr Phiri carries on the business of buying and selling office furniture. During the current year of assessment, he sold his personal household furniture for P5 000. During the current year he also utilized her bank overdraft facility to purchase a motor vehicle for P75 000 which he resold for P150 000 three months later. From the above given information, discuss with reasons, which amounts must be included in Phiri's Gross Income.

6. Give four examples of classes of income exempt from tax.

7. Explain in detail 'tax avoidance' and 'tax evasion'.

8. What are the powers of the commissioner of Income tax where fraud is suspected?

Reference no: EM133407588

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