FIN623 - Taxation Management Quizzes & GDB

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FIN623 - Taxation Management Quizzes & GDB

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Members: 25
Latest Activity: Nov 23, 2019

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FIN623 - Taxation Management GDB No. 1 Solution Fall 2016 Due Date: Nov 29, 2016

Started by Irfan Khan MSCS. Last reply by Muhammad Abu Bakar Awan Nov 24, 2016. 1 Reply

FIN623 - Taxation Management Quiz No. 04 Discussion and Solution Fall 2014 Due Date February 27, 2015

Started by Jamshed ur Rehman B.Com 4th. Last reply by Jamshed ur Rehman B.Com 4th Feb 27, 2015. 1 Reply

FIN623 - Taxation Management Quiz No. 03 Discussion and Solution Fall 2014 Due Date February 03, 2015

Started by Jamshed ur Rehman B.Com 4th. Last reply by Jamshed ur Rehman B.Com 4th Feb 3, 2015. 1 Reply

FIN623 - Taxation Management Quiz No. 02 Discussion and Solution Fall 2014 Due Date Dec, 17, 2014

Started by Jamshed ur Rehman B.Com 4th. Last reply by Jamshed ur Rehman B.Com 4th Dec 17, 2014. 3 Replies

FIN623 Taxation Management GDB No.02 Solution and Discussion Due Date 28-01-2013

Started by imran khan MBA (Finance 4th). Last reply by Nazroop Roze(b.com) Jan 28, 2013. 4 Replies

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Comment by imran khan MBA (Finance 4th) on January 23, 2013 at 9:50pm

Ø To understand the Tax treatment for Microfinance Banks in Pakistan as per Income tax Ordinance 2001.

Discussion Question:

Taxation management is becoming significantly important with the passage of time due to the dynamic nature of businesses, tax rebates, tax concessions and tax holidays. There has always a higher demand for well-qualified tax professionals, having in-depth knowledge of tax laws prevailing in the country. Reaping the tax benefits owing to flexibility in the tax laws is the essence of taxation management and hallmark of efficient tax professionals in any capital driven society.

Domestic Microfinance Bank (DMB), a well reputed bank, has been promoting micro credit trends in Pakistan since the last 2 decades. DMB has earned Rs. 50 million in tax year 2011. Mr. A – a newly appointed tax manager at the bank has computed the tax payable on the bank’s taxable income at the prevailing tax rate of 35% and filed the tax return accordingly.

GDB of Fin 623

You are required to elaborate whether the taxation treatment adopted by the MR. A is right or not for the DMB? Justify your comments along with solid reasons.

Note: Complete your comment within 100 words

 

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