TAX3701 Taxation Of Business Activities (TAX3701)

TAX3701 EXAM PACK. TAX3701 - Taxation Of Business ActivitiesTAX3701 - Taxation Of Business Activities. calculation of VAT payable or refundable of Phepi (Pty) Ltd for the 2 month ending 29 February 2012. Income Cash Sales (R85000X 14/114) (10438.60 ) Credit Sales (R25000 X14/114 ) (3070.18 ) Lay bye sale receipts towards shoes to be purchases (R12500 X14/114 ) Payment received in advance for goods delivered and invoiced on 1 March 2012 – not in current 2 month VAT period(40000x 14/11...

TAX3701 Assignment 2 Semester 2 2022 TAX3701 Assignment 2 Semester 2 2022

SOLUTION 1: VALUE – ADDED TAX (VAT) (a) In terms of s23(1), a person is required to register:  At the end of the month during which the total value of the taxable supplies for the preceding 12 months exceeded R1 000 000;  At the beginning of the month, if it is anticipated that the total value of the taxable supplies in terms of written contractual agreements will exceed R1 000 000 for the following 12 months; or  At the end of the month where the total value of the taxable sup...

TAX3701 EXAM PACK MAY/JUNE 2011 tax3701 QUESTION 1 VAT Payable /refundable VAT Input /(output) Board and Lodging – Mr. Bryan R29 000 X 14/114 (R3561) Board and Lodging – other exempt s12c - Insurance claim received Office cupboard R1200 X 14/114 (R147) Flowers used for decoration R5000 X 14/114 (R614) Laser printer – financial services Long –term insurance exempt - Furniture and Fittings R7800 X 14/114 R958 Vehicle payment R8400 X 14/114 R1032 Purchases – food and cl...

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TAX3701 EXAM PACK 2022 TAX3701 EXAM PACK 2022

Table of Contents ................................................................................................................................................................2 STUDY UNIT 1........................................................................................................................................2 VALUE ADDED TAX (VAT).................................................................................................................2 Registration as a vendor after...

TAX3701 EXAM PACK