Page 17 - F6 Slide - VAT Part 4 - Lecture Day 5
P. 17
Solution
R14 230 × 14/114 × 40% = R699,02 output tax
payable to SARS BB Bank’s output tax liability is
apportioned according to 40% taxable supplies made.
With the initial purchase of the computer as well as
with the monthly insurance premiums paid, BB Bank
was only entitled to 40% of the input tax.
