WISE OWL EXERCISES
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Excel | Masking exercise | Creating a tax holiday mask in XL 07
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Your celebrity lives in Azergolia, where the tax regime is as follows:
- All inhabitants pay tax at a flat rate of 20% on the difference between their revenue and costs for each month. If they spend more than they earn, they pay no tax.
- All inhabitants can designate one month of the year to be a tax holiday, in which no tax is payable.
Open the workbook in the folder above, and add the following inputs:
The tax holiday month can be any number from 1 to 12
In the calculations sheet, calculate:
- The tax that should be paid each month
- A mask specifying for each month whether it is a tax holiday or not
- The actual tax paid for each month
Your final answer should look like this:
When net revenue is negative, your star pays no tax
You should solve this without using the IF function once!
Save the workbook with the same name, then close it down.