Question
Consider DMX plc with TIN(0000014909)VAT Registration No (456871)located at Addis Ababa Gulelie sub-city Woreda (01) Kebele (09/15) house No (433)Telephone No (+251-111-273810)Fax No (+251-111-271433) which
Consider DMX plc with TIN(0000014909)VAT Registration No (456871)located at Addis Ababa Gulelie sub-city Woreda (01) Kebele (09/15) house No (433)Telephone No (+251-111-273810)Fax No (+251-111-271433) which is a Vat registered trader and has three Branches, one of the Branches is engaged in the manufacturing of drugs, the second Branch is engaged in the manufacturing of Leather products and the third Branch is engaged in Coffee Export. During the month of Tahisas 2010 the sales and purchases were as follows:
1. Br 700,000 coffee was purchased from VAT registered coffee traders and birr 300,000 from non-registered traders
2. Raw Materials purchased and imported to manufacture drugs was birr 100,000 and 250,000 respectively from VAT registered traders
3. Raw Material for leather products purchased from local VAT registered tannery was birr 150,000
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4. Repair and Maintenance Expense of Birr 30,000 Telephone Expense Br 1,200 and stationery Materials of Br 20,000 were incurred during the month. Telephone expense is subject to VAT but others not.
5. The Business exported Br2,000,000 coffee during the month
6. DMX sold Br 500,000 drug during the month
7. DMX sold Br 1, 200,000 leather products during the month
Required: Complete VAT Return (ERCA form 3001) for the month of Tahsas assuming Ethiopian Standard Vat Rate and a Vat credit Carried forward from previous month Br 9,000. Assume the monetary figures given above are exclusive of VAT.
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