(a) The rateable value of a house is
N5 600 000.00. Calculate the tax paid
if the rate is 20k...
Mathematics, 01.12.2020 05:50 isaiahmichel93081
(a) The rateable value of a house is
N5 600 000.00. Calculate the tax paid
if the rate is 20k in the naira.
(b) A married man who has five children
under 16 years of age works with an
oil company and earns N200 000 per
annum. He is allowed the following
tax-free allowances:
10% of his annual salary,
N3000.00 per annum as a married man
N2000.00
per
child
per annum up to a
maximum of 4 children,
N5000.00 per annum for a life insur-
ance policy.
Income tax is charged on the remainder as
follows:
on the first N50 000, 10k per naira
on the next N50 000, 20k per naira
on the rest, 25k per naira.
Calculate his average monthly tax, to the
nearest kobo (WAECIGCE 1982)
Answers: 1
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