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Taxation

Forums › ACCA Forums › ACCA TX Taxation Forums › Taxation

  • This topic has 0 replies, 1 voice, and was last updated 5 years ago by Davidmarkk.
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  • June 17, 2020 at 6:06 pm #574085
    Davidmarkk
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    • Topics: 1
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    • ☆

    Mrs. Oval is IT manager of Mathematics SRL, a micro-enterprise. Compute the social contributions and salary tax for Mrs. Oval for March 2020, when it was also Easter.

    The salary for Oval is 2,500 lei.

    In March, she has earned a bonus of 1,500 lei, two gift tickets for Easter for her minor kids – 200 lei each, and a gift for the occasion of Woman’s Day of 200 lei.

    Mathematics SRL gave 20 meal vouchers (lunch tickets) to Mrs. Oval. Each voucher has a nominal value of 10 lei.

    Oval has a car from the employer and in March she used it 400 km of which 100 km in personal interest, 200 km of house-service and 100 km in business interest (travel to customers and tax). The purchase price of the car was 200,000 lei and the cumulative depreciation is 60%.

    Mathematics pays a private pension in Oval’s name, in the amount of 800 lei in March (contribution for 1 year and the only payment of this nature during the year).

    Oval pays by herself a private pension of 250 lei per month and union dues of 150 lei.

    If you feel that you need to use a value for the personal deduction, use 210 lei.

    Mrs. Oval has 2 minor kids she takes care of.

    Compute the salary tax for March 2020. (10 marks)

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