Page 143 - ADVANCED TAXATION - Day 1 Slides
P. 143

Example




                          An employee is granted the use of a company-owned
                          motor car (input tax denied) with a determined value of
                          R160 000, that is fully used for taxable purposes. The

                          employee pays R600 per month that is allocated as
                          follows:

                         Fuel                                                    112

                         Insurance                                               150

                         Maintenance                                               70
                         Interest                                                              168

                         Fixed costs of car                                      100

                          Total                                                   600




                          Calculate the VAT consequences of the above.
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