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(b) Tesla Engineers and Associates is a firm of engineers and designers. In the year of income 2006 they earned professional fee of Sh. 10,500,000
(b) Tesla Engineers and Associates is a firm of engineers and designers. In the year of income 2006 they earned professional fee of Sh. 10,500,000 before VAT. Their accounts show the following expenses: Required: (i) Value Added Tax Account for the year of income 2006. ( 6 marks) (ii) Comment on payment of VAT computed above. ( 2 marks)
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