Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mr Ben, a registered VAT Vendor intends to purchase used furniture from his brother for an amount of R 1 5 0 0 0 (
Mr Ben, a registered VAT Vendor intends to purchase used furniture from his brother for an amount of R
market value which will be used as office equipment in his business. It was used by his brother a nonvendorfor
domestic purposes and payment has been made. Discuss the VAT implications
A Output tax can be charged on the R
B There will be both output and input tax implications
E Nooutput tax can be charged by his brother. Mr Ben can claim a deemedimput tax
D Noinput tax and output tax implications
Elearmychoice
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started