If the VAT is imposed on the value of financial intermediation services, should the purchaser of those
Question:
If the VAT is imposed on the value of financial intermediation services, should the purchaser of those services receive an input credit for the VAT? If so, how should this credit be calculated?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Whether or not the purchaser of financial intermediation services should r...View the full answer
Answered By
John Kago
Am a processional practicing accountant with 5 years experience in practice, I also happens to have hands on experience in economic analysis and statistical research for 3 years. am well conversant with Accounting packages, sage, pastel, quick books, hansa world, etc, I have real work experience with Strata, and SPSS
4.70+
31+ Reviews
77+ Question Solved
Related Book For
Value Added Tax A Comparative Approach
ISBN: 9780521616560
1st Edition
Authors: Alan Schenk, Oliver Oldman
Question Posted:
Students also viewed these Business questions
-
Bank lends Consumer $1,000 and Business $10,000 from funds received from depositors. Bank collects $150 interest from Consumer and $1,000 interest from Business. Bank pays depositors $770 interest on...
-
Are there tax policy or economic reasons to exempt from VAT the value of financial intermediation services? a. If these services are exempt, how should the exemption be provided? How should financial...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Table illustrates the quantities, marginal costs, average variable costs, and average costs of a competitive firm. Refer to table 4. How much is the unit profit at price =$30? [the problem is based...
-
In the middle part of the nineteenth century, the British parliament staged an experiment in private enterprise. In the early part of the century, water was drawn from local rivers, stored in ponds...
-
Describe how a Shewhart chart can be used to conduct a one-factor experiment on a process. List the key steps involved in conducting such a study. How is this different from using a Shewhart chart to...
-
How would you explain the potential impact that the COVID-19 pandemic has had on organizational design, specifically on recommendations for differentiation and integration? Foss, Nicolai J. (2020)....
-
Waterloo Co. sells product P-14 at a price of $48 a unit. The per-unit cost data are direct materials $15, direct labour $10, and overheads $12 (75% variable). Waterloo Co. has sufficient capacity to...
-
Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were...
-
Underwriter charges Corporation $100,000 for its services in marketing $1,000,000 of Corporations bonds (or alternatively 1,000 shares of Corporations stock). Should the underwriting fee be subject...
-
Whoever reads Paradise Lost is educated. (Rxy: x reads y; Ex: x is educated) Translate the following statements into symbolic form.
-
Individuals of two different fish species sometimes mate, but their offspring die soon after hatching. Is this an example of a prezygotic or postzygotic reproductive barrier?
-
The current rate of interest on S-T Treasury Bills = 10%, intermediate term Gov. Bonds = 11%, Lt- Gov. Bonds = 12%, AA rate Corp. Bonds = 13.5% and the rate of inflation is 5%. Holding-period returns...
-
Prepare Income Statement(absorption costing) for the second, third and fourth month. SALES (SP X unit sold) INCOME STATEMENT FORMAT (ABSORPTION COSTING) XXX Less: Cost of Goodsold VARIABLE COST (VC...
-
The following shows the distribution of final exam scores in a large introductory psychology class. The proportion under the curve is given for two segments (short answers-no calculations required)....
-
How much overhead was included in the cost of Job #461 at the beginning of January? * (1 Point). BREAD Co. uses a job order costing system. At the beginning of January, the company had 2 jobs in...
-
3. (3pt.) A state of a physical system is just a description of the system at an instant in time in terms of its properties. In classical mechanics, states are represented by points (in phase space)....
-
The current asset portion of Darden Restaurants, Inc.'s balance sheet is as follows (in $millions). Required Prepare a horizontal analysis of Darden Restaurants' current assets, rounding your answers...
-
A circular concrete shaft liner with Youngs modulus of 3.4 million psi, Poissons ratio of 0.25, unconfined compressive strength 3,500 psi and tensile strength 350 psi is loaded to the verge of...
-
Blue is the owner of all of the shares of an S corporation, and Blue is considering receiving a salary of $110,000 from the business. She will pay the 7.65% FICA taxes on the salary, and the S...
-
Bob Roman, the major owner of an S corporation, approaches you for some tax planning help. He would like to exchange some real estate in a like-kind transaction under 1031 for real estate that may...
-
Keystone, your tax consulting client, is considering an expansion program that would entail the construction of a new logistics center in State Q. List at least five questions you should ask in...
-
Comfort Golf Products is considering whether to upgrade its equipment Managers are considering two options. Equipment manufactured by Stenback Inc. costs $1,000,000 and will last five years and have...
-
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 71,000 shares of $10 par common stock. 8,500 shares of $60 par, 6 percent, noncumulative preferred stock. On...
-
Read the following case and then answer questions On 1 January 2016 a company purchased a machine at a cost of $3,000. Its useful life is estimated to be 10 years and then it has a residual value of...
Study smarter with the SolutionInn App