TAX 3701 ASSIGNMENT 1
Johns Hopkins University
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TAX 3701 ASSIGNMENT 1
- Exam (elaborations) • 14 pages • 2021
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QUESTION 1
What is the output VAT on the income from transporting goods?
(1) R63 375
(2) R84 783
(3) R97 500
(4) Rnil
R650 000 × 15/115 = R84 783
3
QUESTION 2
What is the output VAT on the income from transporting passengers?
(1) R28 614
(2) R30 391
(3) Rnil – exempt supply
(4) Rnil – zero-rated supply
Note that the supply of public transport by road or rail is exempt from VAT if the
transportation
o takes place between two places within the RSA
o is of fare-paying pass...
Exam (elaborations)
TAX 3701 ASSIGNMENT 1
Last document update:
ago
QUESTION 1 What is the output VAT on the income from transporting goods? (1) R63 375 (2) R84 783 (3) R97 500 (4) Rnil R650 000 × 15/115 = R84 783 3 QUESTION 2 What is the output VAT on the income from transporting passengers? (1) R28 614 (2) R30 391 (3) Rnil – exempt supply (4) Rnil – zero-rated supply Note that the supply of public transport by road or rail is exempt from VAT if the transportation o takes place between two places within the RSA o is of fare-paying pass...
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