What do you understand by this natural and corporate person

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Reference no: EM131863266

Question: 1. Article 1 of Income Tax Laws of Saudi Arabia has defined various terms used therein. It defines ‘Person' as any natural person or corporate person. What do you understand by this Natural and Corporate person?

2. According to the law, any person who does not satisfy the requirements of the status of a resident is called Non-Resident. State the requirement for the status of a resident.

3. An asset that is encumbered by debt of SAR 15000 whereas its market value is SAR 12500 is disposed of. How much amount is treated as having received compensation by the tax payer according to Article 9?

4. According to Article 18 (a), Expenses incurred by the taxpayer for the repair or improvement of depreciable assets in each group may be deducted. What are these groups of depreciable assets and mention the depreciable rates for each group.

Reference no: EM131863266

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