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Income Tax and Related Terms

Calculate 'Ne...

Question

Calculate 'Net National Product at Factor Cost' and 'Gross National Disposable income' from the following:
(Rs in Arab)
(i) Social security contributions by employees90
(ii) Wages and salaries 800
(iii)Net current transfers to abroad (-)30
(iv)Rent and royalty 300
(v) Net factor income to abroad 50
(vi) social security contributions by employers 100
(vii) Profit 500
(viii) Interest 400
(ix) Consumption of fixed capital 200
(x) Net indirect tax 250

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Solution

$N N P^{f o} =$ Wages and salaries +social security contribution by employers + rent and royalty+ profit+ interest- net factor income to abroad
=800+100+300+500+400-50
=Rs2050Arab
Also, Gross National Disposable Income= $N N P^{f o}$ $+$ NIT-net current transfers to the rest of the world+consumption of fixed capital
=2050+250-(30)+200
=Rs2530Arab.

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