TAX 1501 ASSIGNMENT 3

Johns Hopkins University

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TAX 1501 ASSIGNMENT 3
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16

August 2021

2021/2022

A+
QUESTION 1 (25 marks, 30 minutes) Forever Diamonds (Pty) Ltd carries on a business as a manufacturer of jewelry and is also a jewelry retailer. The company runs its manufacturing operations in Johannesburg and has three retail stores located in Far City, Home-way and Wow Shopping Centres. The company is a vendor for Value-Added Tax (VAT) purposes and is registered on the invoice basis. The company had the following income and expenditure for the two-month tax period ending on 31 March 2020....
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