PART B (5 marks, 9 minutes)You have recently been employed by a firm of accountants...
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PART B marks, minutesYou have recently been employed by a firm of accountants as a tax adviser. The following queryregarding a South African resident client has been referred to you:Tsepi Nota Pty Ltd TN carries on a business as a transport contractor, transporting goods allover South Africa. The company also transports passengers and their personal belongings to andfrom Durban and Johannesburg by means of luxurious buses.After receiving numerous complaints from passengers TN now provides a meal and refreshmentsto all passengers travelling on its buses. TN has contracted with a catering supplier to supply andprepack meals and refreshments for this purpose. Each meal will be purchased by TN for Rie R plus VAT of R To cover, in part only, the additional cost of the meal, TN will increaseits ticket price of a single trip by RREQUIRED: MarksTN a registered VAT vendor would like to know the VAT implications of thepurchase of the meals and the increased ticket price. Your answer should be based on the latest taxation.
PART B marks, minutesYou have recently been employed by a firm of accountants as a tax adviser. The following queryregarding a South African resident client has been referred to you:Tsepi Nota Pty Ltd TN carries on a business as a transport contractor, transporting goods allover South Africa. The company also transports passengers and their personal belongings to andfrom Durban and Johannesburg by means of luxurious buses.After receiving numerous complaints from passengers TN now provides a meal and refreshmentsto all passengers travelling on its buses. TN has contracted with a catering supplier to supply andprepack meals and refreshments for this purpose. Each meal will be purchased by TN for Rie R plus VAT of R To cover, in part only, the additional cost of the meal, TN will increaseits ticket price of a single trip by RREQUIRED: MarksTN a registered VAT vendor would like to know the VAT implications of thepurchase of the meals and the increased ticket price. Your answer should be based on the latest taxation.
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