VAT LPAM 2022
Question 1 of 10 2 Points
A firm can register for Vat voluntarily if the turnover is R50 000 or more
A. True
B. False
Question 2 of 10 2 Points
Legal fees are categorised as:
A. Zero-rated supplies / services
B. Standard rated services / supplies
Question 3 of 10 2 Points
Value added tax is a tax charged on a profit made by a business.
A. False
B. True
Question 4 of 10 2 Points
A natural person can account for vat on a payment basis when the turnover does not exceed:
A. R1 million
B. R2.5 million
Question 4 of 10 2 Points
A natural person can account for vat on a payment basis when the turnover does not exceed:
A. R1 million
B. R2.5 million
Question 5 of 10 2 Points
Vat payable or refundable is calculated using the following formula
A. Vat output less Vat input
B. Vat output less vat input less vat rebate
Question 1 of 10 2 Points
A firm can register for Vat voluntarily if the turnover is R50 000 or more
A. True
B. False
Question 2 of 10 2 Points
Legal fees are categorised as:
A. Zero-rated supplies / services
B. Standard rated services / supplies
Question 3 of 10 2 Points
Value added tax is a tax charged on a profit made by a business.
A. False
B. True
Question 4 of 10 2 Points
A natural person can account for vat on a payment basis when the turnover does not exceed:
A. R1 million
B. R2.5 million
Question 4 of 10 2 Points
A natural person can account for vat on a payment basis when the turnover does not exceed:
A. R1 million
B. R2.5 million
Question 5 of 10 2 Points
Vat payable or refundable is calculated using the following formula
A. Vat output less Vat input
B. Vat output less vat input less vat rebate
