Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 a) Kuntu Ltd is a VAT registered trader dealing in manufacturing and sale of canned sh. Below is an extract from the books

image text in transcribed
QUESTION 1 a) Kuntu Ltd is a VAT registered trader dealing in manufacturing and sale of canned sh. Below is an extract from the books of the company for the month of February 2022. Taxable supply (VAT Inclusive) 655,875.00 Relief Supply 200,000.00 Exempt Supply 120,000.00 Taxable Inputs (VAT Inclusive) 696,937.50 Required: ii. Compute the total Value Added Tax and other related taxes payable or tax credit due to the company for the month of February 2022. (10 marks) If the company led their VAT returns on 31St October 2022, state the penalty for late ling of VAT returns and calculate the penalty due

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analyzing Superfund Economics, Science And Law

Authors: Richard L Revesz, Richard B Stewart

1st Edition

1317354796, 9781317354796

More Books

Students also viewed these Economics questions

Question

=+b) Comparing the sweetness of a diet drink (rated from 1 to

Answered: 1 week ago

Question

2. To store it and

Answered: 1 week ago