Question $215$ Marks

$3\mathrm{.}1$ Define trading stock in terms of the Namibian Act. Further state & explain the sections of the act which deals with trading stock? $8$ marks

$3\mathrm{.}2$ Define fringe benefits in terms of the income tax Act $2$ marks

$3\mathrm{.}3$ What section of the Act deals with foreign exchange transactions $2$ mark

$3\mathrm{.}4$ Mention $3$ ways in which the payment of normal tax payable for individuals takes

place? $3$ marks