Question
(a) Mr Lungu has lodged disposal documents with the ZRA of his property in Kabulonga (High Cost Area); ZRA is suspicious with the selling price
(a) Mr Lungu has lodged disposal documents with the ZRA of his property in Kabulonga (High Cost Area); ZRA is suspicious with the selling price he indicated of k550, 000 as it is a prime area. After an evaluation of the value of properties in the same area, it was found out that the prices in Kabulonga area range from K1,200,000 to K2,500,000.
Required:
- Calculate the PTT assessable on Mr Lungu.
How do you explain the realisable value on property on disposal of property regarding assessibility to Property Transfer Tax
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For Mowen/hansen/heitgers Cornerstones Of Managerial Accounting, 6th Edition, [instant Access]
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
6th Edition
1305280768, 9781305280762
