Q_tq7 ch07 - minimum tax

What is the purpose of Minimum Tax?

• A. It is the same as tax on annual income

• B. It is a separate tax paid by taxpayers under the self-assessment regime

• C. It is only applicable to Qualified Investment Plans (QIPs)

• D. It is calculated based on Value Added Tax (VAT)

How is Minimum Tax calculated?

• D. Total Annual Turnover / VAT x 1%

• B. Total Annual Turnover - VAT x 1%

• C. Total Annual Turnover + VAT x 1%

• A. Total Annual Turnover x 1%

What are the key preferences granted to educational establishments according to Prakas No. 208 SHV/PK?

• A. Postponement of tax income payment until 2025

• B. Postponement of minimum tax payment until 2023

• C. Only gross income is taxable

• D. No preferences granted

In what case does an enterprise bear no due amount of minimum tax?

• A. When minimum tax exceeds income tax

• C. When there is no tax liability

• D. When there is no annual turnover

• B. When income tax exceeds minimum tax

When can the tax credit be carried forward for the next tax year?

• B. When the minimum tax exceeds the tax credit

• C. When there is no tax credit

• D. When the tax credit is used for prepayment tax on income

• A. When the tax credit exceeds the minimum tax

What are the criteria for educational establishments to qualify for tax preferences under Prakas No. 208 SHV/PK?

• A. Must have a minimum annual turnover

• B. Must be registered with the Ministry of Education

• C. Must be engaged in educational activities

• D. Must have foreign ownership

How is the tax credit amount determined for enterprises?

• A. Based on the number of employees

• B. Based on the annual turnover

• C. Based on the amount of VAT paid

• D. Based on the type of industry

What is the penalty for late payment of Minimum Tax?

• A. 1% of the tax amount per day

• B. 5% of the tax amount per month

• C. 10% of the tax amount per quarter

• D. 20% of the tax amount per year

What is the benefit of tax preferences for educational establishments under Prakas No. 208 SHV/PK?

• A. Exemption from VAT payments

• B. Reduction in corporate income tax rate

• C. Postponement of minimum tax payment until 2023

• D. No tax liabilities for 5 years

How does the tax credit amount impact the overall tax liability of enterprises?

• A. It reduces the tax liability by the amount of the tax credit

• B. It increases the tax liability by the amount of the tax credit

• C. It has no effect on the tax liability

• D. It doubles the tax liability