Q1. Discuss the types of activities that are considered taxable, and what types of income are considered tax exempted. (answer in your own words DO NOT copy from any source). (2 Marks)
Q2. Answer the following questions: (0.5 Mark each)
- A taxpayer dispose of an asset by gift with a Cost base of 50,000 SR. The market value of those assets at the time of disposal is 70,000 SR.