Tax3761 Test 1 Of 2025 Expected Solutions

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CLIENT 1: Ro bonana Mabitleng (Pty) Ltd (RM)
VAT Payable/Refundable Calculation for the period ended 28 February 2025

Transaction VAT Output/(Input) Amount (R) Explanation
Second-hand goods from non-vendor:
VAT calculated as tax fraction (15/115)
1. Second-hand delivery × lesser of purchase price or open
Input VAT (20,000.00)
vehicle purchase market value × portion paid. R287,500
× 80% × 15/115 = R20,000. Section
16(3)(a)(ii)(aa) of VAT Act.

, Standard rated supplies: 15% ×
2. Local laptop sales Output VAT 135,000.00 R900,000 = R135,000. Section 7(1)(a)
of VAT Act.
Zero-rated supplies as per Section
2. Exported laptop sales Output VAT -
11(1)(a) of VAT Act.
Input VAT allowed despite missing
RM's VAT number on invoice.
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R230,000 × 15/115 = R30,000. Section TUTOR
3. Laptop purchases Input VAT (30,000.00) 16(2)(a) read with Section 20(4) of VAT oscardiura@
Act. The VAT number of the recipient gmail.com
is not a compulsory requirement that +277375609
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ECS DSC
Subscription fees in RM's name are for TAX QMI FIN
4. Membership subscription
Input VAT (1,500.00) business purposes. R11,500 × 15/115 = INV BNU STA
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R1,500. Section 16(3) of VAT Act.
VAT on imports: 15% × customs value
5. Imported raw materials Input VAT (17,250.00) of R115,000 = R17,250. Section
16(3)(a)(iii) of VAT Act.
VAT Payable/(Refundable) 66,250.00 VAT payable to SARS




CLIENT 2: Network Solutions (Pty) Ltd (NS)
Query 1: Tax implications of warehouse sales for year ended 31 March 2025

Explanation and
Tax Aspect Implication
Reference
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