Customs – Knowsia

ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

Question

a). Section 34 (i) of the Income Tax Act, 2015 (Act 896) states that:

“For the purpose of determining liability of tax under this Act, the Commissioner-General may re-characterize or disregard an arrangement or part of an arrangement that is entered into or carried out as part of tax avoidance scheme:

a. Which is fictitious or does not have a substantial economic effect, or

b. Whose form does not reflect its substance’’

Required:

Briefly explain with two examples for each of the following:

i. Arrangement (5 Marks)

ii. Tax avoidance (5 Marks)

b). Under the Customs, Excise and Preventive Service (Management) Law, 1993 PNDCL 330; explain the following:

i) Quarantine (2 Marks)

ii) Drawback (2 Marks)

iii) Excisable goods (2 Marks)

iv) Uncustomed goods (2 Marks)

v) Rummaging (2 Marks)

Answer

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Tags: Customs, Drawback, Excisable Goods, Quarantine, Rummaging, Uncustomed Goods
Level: Level 3

Topic: Indirect Taxes
Series: FEB 2017

TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

Question

The rate of import duty on live reptiles, including snakes and turtles is:
A. 25%
B. 20%
C. 15%
D. 10%
E. 5%

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs, Import duty, Reptiles, Tax Rates
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

Question

d) Discuss Duty Drawback as a Custom Regime.

(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs, Duty Drawback, Export Incentives, Trade Regulations
Level: Level 3

Series: NOV 2016

ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

Question

a). Section 34 (i) of the Income Tax Act, 2015 (Act 896) states that:

a. Which is fictitious or does not have a substantial economic effect, or

b. Whose form does not reflect its substance’’

Required:

Briefly explain with two examples for each of the following:

i. Arrangement (5 Marks)

ii. Tax avoidance (5 Marks)

b). Under the Customs, Excise and Preventive Service (Management) Law, 1993 PNDCL 330; explain the following:

i) Quarantine (2 Marks)

ii) Drawback (2 Marks)

iii) Excisable goods (2 Marks)

iv) Uncustomed goods (2 Marks)

v) Rummaging (2 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs, Drawback, Excisable Goods, Quarantine, Rummaging, Uncustomed Goods
Level: Level 3

Topic: Indirect Taxes
Series: FEB 2017

TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

Question

The rate of import duty on live reptiles, including snakes and turtles is:
A. 25%
B. 20%
C. 15%
D. 10%
E. 5%

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs, Import duty, Reptiles, Tax Rates
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

Question

d) Discuss Duty Drawback as a Custom Regime.

(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customs, Duty Drawback, Export Incentives, Trade Regulations
Level: Level 3

Series: NOV 2016

Question Tag: Customs

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ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

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ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

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TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement"

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

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ATP – Feb 2017 – L3 – Q1 – Tax Avoidance

Explain arrangement and tax avoidance with examples under Income Tax Act 2015.

You're reporting an error for "ATP – Feb 2017 – L3 – Q1 – Tax Avoidance"

TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement

Objective question about the import duty rate for live reptiles.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q14 – Tax Administration and Enforcement"

AT – Nov 2016 – L3 – Q5d – International taxation

Explain the concept of Duty Drawback within the customs regime and its significance.

You're reporting an error for "AT – Nov 2016 – L3 – Q5d – International taxation"

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