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WorksheetsValue Added TAx
Total questions: 13
Worksheet time: 45mins
What does the acronym V. A. T. stand for?
Value And Tax
Variety Added Tax
Value Added Tax
Value Added To
An institution that collect revenue and ensure compliance with tax law.
National treasury
SADC
South African Revenue Services
VAT is a tax on
Income
Company profit
Property
Spending
List the VAT vendor requirements in South Africa
What kind of tax is VAT?
Depends upon the types of goods and services
Direct tax
Indirect tax
None of the above
A person who is or is required to be registered under VAT Act
VAT input
VAT reference
VAT Vendor
Differentiate between Input Vat and Output
List five basic food items
It is imposed in every step in the production and distribution chain.
Sales taxes
Income taxes
Value added taxes
corporate taxes
It is a tax on the purchase of a good or service
Income tax
Value added tax
inheritance tax
Are farmers exempt from paying tax?
YES
NO
NONE OF THE ABOVE
Simhleleleh works at Spar, she does not know how to calculate the VAT on the sales to the customers and Please assist in calculating the VAT (15%) that will be charged on the list.
A customer had the following items in her trolley( All prices exclude VAT)
a) Milk at R19.00
b)Tomatoes at R15.00
c) Bacon at R 30
d) Mixed Vegetables at R 27
e) Charcoal at R50.00
As a citizen, do you think it was wise for the governement to increase the VAT by 1% in 2018? It must be a short paragraph using 200 words.
