Company P is a real estate company within China. The company sold a used office in August 2020. The selling contract was signed with RMB 2,000,000 (VAT included). This office was self-built in January 2012 and land acquisition cost was RMB 800,000, the current assessment value is RMB 400,000.VAT on the sale of the office adopts simplified method, city maintenance and construction tax and education levy of 12% on the VAT and stamp duty of 0.05% .Calculate the deductible items amount when land appreciation tax paid by Company P on selling this used office.

1 .Which of the following persons are China tax residents?(1) A person with China domicile working in and resides in China United States for the whole year of 2020.(2) A foreigner who travelled to China to work for 182 days in 2020(3) A foreigner who travelled to China to study and resides in China for 183 days in 2020.(4) A foreigner who stayed in China for sight-seeing and resides in China for 91 days in 2020

A (1) and (3) B (2) and (3) C (1), (2) and (3) D (2), (3) and (4)

题型: 单选题 提问时间: 2021-08-25

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2 .Company A is a production company. The company's transactions for December 2019 are as follows:(1) Borrowed the RMB 1 million from a bank by mortgaging its own factory building, which is still in the mortgage period;(2) When corporate A restructures and reorganizes, it used an own office building to invest into a new production company;(3) Company A contributed land and a commercial company contributed fund, jointly building an office building for selfuse, which was used by them separately after completion;(4) Exchanged its idle office building with the factory building of Company Y.Which of above statement(s) is subject to land appreciation tax?

A (1) only B (4) only C (3) and (4) only D (1), (3), and (4) only

题型: 单选题 提问时间: 2021-08-25

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3 .Which one of the donation acts is subject to land appreciation tax?

A Mr. Zhang donates real estate to his mother B Ms. Li donates real estate to a child who has been directly supported by Ms. Li C Mr. Liu donates real estate to a Hope Project foundation through a government agency D Ms. Ding real estate property to her friend who has helped her in past years

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4 .Company A provides land and Company B provides construction labour, jointly develop real estate. After completion, Company A and Company B had half of the property right respectively. Company A transfers the half of housing property it has obtained, and Company B uses the half of housing property for its own purpose after acquiring it.(1) Land appreciation tax shall be collected when Company A’s provision of land;(2) Land appreciation tax is temporarily exempted for Company B’s using the jointly-built house for its own purpose;(3) Land appreciation tax shall be collected for Company A's transfer of buil-t up housing property as per the transfer added-value;(4) LAT should be accounted on distributing properties after construction.Which of the above statement(s) about tax treatment is correct?

A (1) and (4) only B (2) and (3) only C (2), (3), and (4) only D All of the above

题型: 单选题 提问时间: 2021-08-25

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5 .Company A is a property developer. The company had the following transactions in May 2020.(1) A land use right was transferred to Company A in March 2020. Company A paid a price 142 ACCA Taxation (CHN) Exam Guidanceof RMB 30,000,000 and deed tax and other costs to get the land of RMB 1,500,000.(2) A top-grade office building was developed on this land, with a development cost of RMB 16,000,000, including an interest payment of RMB 1,000,000, which can be evidenced by a certificate of financial institution and can be apportioned among projects.In that year, the office building was completed and sold completely. VAT was calculated at simplified method and amounted to RMB 5,000,000.Calculate the total deductible development expenses including interest.

A RMB 3,852,000 B RMB 3,325,000 C RMB 3,423,200 D RMB 3,380,500

题型: 单选题 提问时间: 2021-08-25

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7 .A commercial company sold a used office building in December 2019, the revenue (VAT included) was RMB 10,000,000 and stamp duty was RMB 5,000. As the assessment value was not available, the purchase invoice can be provided. This office building was purchased in August 2015, the purchase price set out on the invoice is RMB 6,000,000 and the amount specified on deed tax payment certificate is RMB 180,000, which has been confirmed by the tax authority. It shall be used simplified method, city maintenance and construction tax and education levy of 10% on the VAT.Calculate deductible items amount when land appreciation tax paid by selling this used office building.

A RMB 6,396,532 B RMB 6,401,150 C RMB 7,404,048 D RMB 7,637,250

题型: 单选题 提问时间: 2021-08-25

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8 .The items that can be deducted when the property developer calculates land appreciation tax:(1) The amount paid for acquiring the land use right(2) The real estate development costs(3) The real estate development expenses(4) Tax related to the transfer of housing propertyWhich of above deductible item(s) can be included in the scope of deducting 20% ?

A (1) and (2) only B (2) and (3) only C (3) and (4) only D All of the above

题型: 单选题 提问时间: 2021-08-25

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9 .An industrial company sold a newly-built office building and obtained an income (VAT exclusive) of RMB 50,000,000, and the erection cost of this office building (including land price and development cost) is RMB 33,000,000, and the deductible development expense is RMB 4,000,000, and the tax paid on the sales of the office building is RMB 275,000 (VAT exclusive).Calculate the land appreciation tax payable by the company on the sales of the office building.

A RMB 967,500 B RMB 975,000 C RMB 3,817,500 D RMB 3,075,000

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10 .In August 2020, a property developer sold a land use right which was purchased 5 years ago, and obtained a transfer income (VAT exclusive) of RMB 28,000,000. The purchase price of this land use right is RMB 12,000,000. The relevant expense paid for acquiring the land use right is RMB 400,000. The relevant tax paid on the sales of the land parcel is RMB 350,000 (VAT exclusive).Calculate the land appreciation tax payable by the property developer on the sales of the land use right.

A RMB 5,735,000 B RMB 5,500,000 C RMB 5,575,000 D RMB 5,712,500

题型: 单选题 提问时间: 2021-08-25

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