Exam (elaborations)
TAX3701 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS }
- Institution
- University Of South Africa
TAX3701 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS }
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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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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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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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