At what date does the South African
government's fiscal year end?
® a. 31 March.
() b. 28/29 February
(O) c¢. 30 June.
() d. 31 December.
Clear my choice
,Smarty Pants (Pty) Ltd is a resident of the
Republic of South Africa and earned the
following income during the current year of
assessment:Income from services rendered in
Brazil = R200 000 Income from services
rendered in South Africa = R200 000. On which
amounts will Smarty Pants (Pty) Ltd be taxed?
() a. Smarty Pants (Pty) Ltd will be taxed on all the
income earned in South Africa due to being
taxed on the residence basis.
() b. Smarty Pants (Pty) Ltd will only be taxed on
the income earned in Brazil due to being
taxed on the residence basis.
(® c. Smarty Pants (Pty) Ltd will be taxed on all the
income earned due to being taxed on the
residence basis.
() d. Smarty Pants (Pty) Ltd will be taxed on all the
income earned in South Africa due to being
taxed on the source basis.
Clear my choice
,According to the ITA34 issued by SARS for the
current year of assessment, Bhekisizwe (Pty)
Ltd owes SARS R30 000. The company does
not agree and has lodged an objection which is
ongoing. The amount reflected in the
assessment is now due for payment. What
should the company do?
() a. Pay the amount that the company believes is
the correct one.
(1) b. Wait for SARS to finalise the objection
process before paying anything.
(7) c. Pay SARS half of the R30 000 and wait for
the objection process to be finalised.
(@ d. Pay the R30 000 which is reflected on the
assessment.
Clear my choice
, A company established and/or incorporated in
South Africa is
() a. subject to sales tax.
(® Db. subject to tax on its worldwide income.
(0) c. subject to tax on its South African income
only.
(1) d. subject to tax on its foreign income only.
Clear my choice
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