Page 2 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1
P. 2

Outcomes











         Upon the successful completion of this Study Unit you

         should be able to:


         Calculate the VAT payable or refundable for a relevant

            tax period;


         List the registration requirements and apply these
            requirements to a given set of facts;


         Select the most important definitions in the VAT Act

            and motivate the choice/s;


         Explain what accounting bases may be used and explain

            which bases to apply for;


         Prepare journal entries to record VAT transactions; and


         Prepare and motivate correcting journal entries to
            rectify accounting records.
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