a. John Peter is aware that there is no Capital Gains tax in Barbados. He decided to buy a large piece of land. The land was hilly, so he blasted it to make it flatter, installed a soak away so the water does not settle on the land and made several roadways for ease of access. After 6 months of purchasing the land, he subdivided the land and sold it to 30 separate persons making a large gain. Advise Mr. Peter whether the gains are taxable in Barbados. Appropriate case laws should be referenced in your assessment.

b. ABC made the following supplies for sale in January 2020: ABC Juice Limited manufactures and sells juice locally in St. Lucia and in the Caribbean. The business is VAT registered with tax authorities in St. Lucia. The company has recorded the following transactions in January 2020:

- Sales to local customers - $1,300,000 (VAT inclusive)

- Sales to local customers - $1,000,00 (VAT exclusive)

- Sales to customers located abroad - $700,000

- Purchases $750,000 (VAT inclusive)

- Purchases $500,000 (VAT exclusive)

- Imports of $75,000 inclusive of J$15,000 VAT

Calculate the VAT payable/refundable for January 2020? (10 marks)