A yacht factory sold a yacht to an individual customer and received a total amount of RMB4

end of RMB500,000 to its investor, Hoo Ltd. Hoo Ltd is set up in the Cayman Islands, which does not have any tax treaty with China.

What are the amounts of enterprise income tax (EIT) and business tax respectively, which CA Ltd should withhold before remitting the dividend to Hoo Ltd?

A.RMB47,500 and RMB25,000

B.RMB50,000 and RMB25,000

C.RMB50,000 and RMB22,500

D.RMB50,000 and RMB0

Alpha lent RMB200,000 to Beta Ltd at an interest rate of 10% per annum.

What is the type and amount of turnover tax which Alpha Trading Ltd will pay on the interest income received for the year 2014?

A.Business tax of RMB1,053

B.Business tax of RMB1,000

C.Value added tax of RMB3,400

D.Value added tax of RMB1,200

nnum. Mr Lee is a not a China tax resident and he has not travelled to China in 2014.

What is the amount of individual income tax (IIT) payable by Mr Lee in 2014?

A.RMB0

B.RMB40,000

C.RMB22,400

D.RMB32,000

50 to RMB50,000 so as to increase the deduction for enterprise income tax (EIT).

What is the type of offence Zeta Ltd has committed under the Tax Collection and Administrative Law?

A.Transfer pricing

B.Tax avoidance

C.Tax evasion

D.Fraudulence in the issuance of an invoice

ght for RMB10 million and incurred construction costs of RMB12 million. The shopping mall was sold for RMB32 million.

What is the amount of business tax payable on the sale of the shopping mall?

A.RMB1·6 million

B.RMB1·1 million

C.RMB0·5 million

D.RMB1 million

. The supermarket agreed to bear all of the taxes for the winners of the lucky draw.

What is the individual income tax (IIT) payable on Ms Wang’s lucky draw prize and who will be responsible for paying it to the tax bureau?

A.A

B.B

C.C

D.D

rchased light bulbs for RMB100,000 (excluding value added tax (VAT)) and a VAT special invoice was obtained. Carti Ltd exported the light bulbs to Europe for RMB150,000. The export VAT refund rate for light bulbs is 16%.

What is the amount of the value added tax (VAT) refund which Carti Ltd can receive?

A.RMB16,000

B.RMB24,000

C.RMB8,000

D.RMB500

from China customs duty?

(1) The importation of goods into a China free trade zone

(2) The importation of equipment under an operating lease

(3) The importation of raw materials under a processing trade

(4) The importation of raw materials under a general trade

A.1, 2, 3 and 4

B.1, 2 and 3 only

C.1 and 3 only

D.2 and 4 only

ate of 25%. Xuno Ltd’s taxable profits (losses) since its inception are summarised below:

What is the amount of enterprise income tax (EIT) payable by Xuno Ltd in 2014?

A.RMB34,250

B.RMB90,000

C.RMB127,500

D.RMB60,000

A computer trading company took ten computers from its warehouse.

Which of the following uses of the computers will be classed as a deemed sale for BOTH value added tax (VAT) and enterprise income tax (EIT)?

A.To be used in the company’s offices as fixed assets

B.To be given as souvenirs to the company’s customers

C.To be sent to the company’s branch office for sale

D.To be scrapped as they were no longer saleable