Exam (elaborations)
OCTOBER 2023 TAX3701 EXAM
- Course
- Accounting 200 (TAX3701)
- Institution
- University Of Johannesburg (UJ)
OCTOBER 2023 TAX3701 EXAM
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TAX3701Date: 25 October 2023
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, UNIVERSITY EXAMINATIONS
Oct/Nov 2023
TAX3701
Taxation of Business Activities
100 Marks
Duration 3 Hours
This paper consists of ten (9) pages and 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
be provided. All amounts must be rounded to the nearest Rand.
5. Please complete the cover page of the answer book in full.
6. You are reminded that answers may NOT be written in pencil.
7. Proposed timetable:
(As far as possible, try not to deviate from this timetable):
Question Topic Marks Minutes
1 Value-Added Tax 20 36
2 Tax liability of a company 40 72
3 General deduction formula 10 18
4 Provisional tax and dividends tax 18 32
5 Turnover tax 12 22
TOTAL 100 180
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