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TAX3701 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS } $2.68
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TAX3701 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS }

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TAX3701 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS }

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  • October 24, 2024
  • 128
  • 2024/2025
  • Exam (elaborations)
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UNIVERSITY EXAMINATIONS
Examiner: Mr Mhlanguli Nare

Oct/Nov 2024

TAX3701

Taxation of Business Activities

100 Marks
Duration 3 Hours




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2
TAX3701

Oct/Nov 2024


This paper consists of Fourteen (14) pages including
Appendix A

IMPORTANT INSTRUCTIONS:

Assumptions:

1. The VAT rate changed from 14% to 15% on 1
April 2018.
2. All persons mentioned are residents of the
Republic of South Africa unless stated otherwise.
3. SARS = South African Revenue Service.

The answering of this paper:

1. This paper consists of five (5) questions.
2. All questions must be answered.
3. Each question must be commenced on a new
(separate) page.
4. All workings, where applicable, must be shown.
Where an amount is subject to a limitation,
clearly indicate the application of the limitation.
Where any item has a nil effect on any tax, this
must specifically be indicated, and a short reason
should

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3
TAX3701

Oct/Nov 2024


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be provided. All amounts must be rounded to the
nearest Rand.
6. You are reminded that answers may NOT be
written in pencil.
7. This is a closed book exam
8. Proposed timetable:
(As far as possible, try not to deviate from this
timetable):
Question Topic Marks Minutes
1 Value-Added Tax 25 45
Turnover tax, taxation
of a business and
2 22 40
general deduction
formula
3 Normal income tax 35 63
liability
4 Provisional tax 10 18
5 Dividends tax 8 14
TOTAL 100 180



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