Page 55 - F6 Slide - Taxation - Lecture Day 4
P. 55
Example
Mark Model (a VAT vendor) carries on the business of a
dairy, and for the VAT period under review he received
R300 000 (VAT inclusive) for the sale of milk. During
the same period he incurred the following expenses
(VAT inclusive):
R
Purchase of cows from vendors 114 000
Fuel 8 000
Purchase of packing materials 57 000
Calculate the VAT payable or refundable for the
applicable VAT period.
