WorksheetsVAT
Total questions: 10
Worksheet time: 5mins
What is the current standard VAT rate in South Africa today?
28%
14%
15%
Which item will not be regarded as a Zero rated item.
Bread
Fruit and Vegitables
Milk and milk products
Meat
Who will be liable for the full amount of VAT?
Consumer
Business
Government
Producer
Which of the following will be seen as a standard VAT rate item?
Data
School fees
Petrol
Cooking oil
When will a business be compelled to register as a VAT vendor.
When turnover is more than 1 million rand
When sales is less than 1 million rand
When the business makes a turnover of more than 50 000
All of the above
When will a business register as a voluntary VAT vendor?
When turnover is more than 1 million rand
When sales is less than 1 million rand but more than R50 000.
When the business makes a turnover of more than 50 000
All of the above
When will a business not be allowed to register as a VAT Vendor?
When turnover is more than 1 million rand
When sales is less than 1 million rand
When the business makes a turnover of less than 50 000
All of the above
Which item from the list will be exempt of VAT?
Bread
School fees
Sanitary towls
Electricity
VAT will be regarded as a direct tax.
True
False
VAT evasion is a legal form of bypassing VAT when you only buy zero rated goods.
True
False
