Page 117 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Example

Manufacturers Ltd recently suffered a robbery at its

premises. Their insurance company reimbursed them in

cash, as follows:

R

 For delivery vehicle stolen 132 000

 For passenger vehicle stolen (input tax was denied with

purchase) 100 000

 For microwave oven in canteen stolen (input tax was

denied with purchase) 2 500

Calculate the output tax in respect of the

insurance payment received.