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Ali, a consumer, buys electronics worth $20,000, while Consumer Jumabuys for $45,000 and Consumer Saif spends to the value of $100,000. VAT is charged
Ali, a consumer, buys electronics worth $20,000, while Consumer Jumabuys for $45,000 and Consumer Saif spends to the value of $100,000. VAT is charged at 5% on the price marked on the products. 1. What is the VAT payable to the government? 2. Explain the type of taxation system applicable in this situation. 3. Is this system of taxation fair? 4. Explain why this system is being criticised?
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Step 1 of 2 VAT is Value added tax which is consumption based tax In various countries it is alterna...
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An Introduction to Derivative Securities Financial Markets and Risk Management
Authors: Robert A. Jarrow, Arkadev Chatterjee
1st edition
978-0393912937, 393912930, 393913074, 978-0393920949, 393920941, 978-0393913071
