College of Administration and Finance Sciences Assignment (1) Deadline: Saturday 02/03/2024 @ 23:59 Course Name: Tax and Zakat Accounting Student’s Name: Course Code: ACCT 422 Student’s ID Number: Semester: Second CRN: Academic Year: 1445 H For Instructor’s Use only Instructor’s Name: Students’ Grade: /15 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented; marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism. • Submissions without this cover page will NOT be accepted. College of Administration and Finance Sciences Q1. The Saudi Income Tax Law have distinguished between Saudi-owned entities and nonSaudi persons and entities. Discuss the difference between the two groups with regards to income tax law? (5 Marks) Answer: Q2. Explain how the tax base is calculated according to Article (6) of the income tax law. (5 Marks) Answer: Q3. Discuss the types of activities that are considered taxable according to Saudi income tax. (5 Marks) Answer: