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TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

Question

Taxable supplies of goods and services are those listed under the First Schedule of
the Value Added Tax Act Cap VI for 2004 (as amended). Essentially, these are goods
and services liable to value added tax at the prescribed rate.
Required:
Explain when goods and services shall be deemed to be supplied in Nigeria in
accordance with section 2 of VAT Act (as amended).

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Nigeria, Services, Supply, VAT
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: NOV 2021

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

Question

a) State THREE goods and THREE services exempted from VAT.

b) Explain THREE differences between Value Added Tax (VAT) and Withholding Tax. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Services, VAT Exemptions
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: MAY 2018

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

Question

i) What is Taxable Activity under Value Added Tax? (1 mark)

ii) Identify FIVE (5) examples of taxable activities. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghanaian Tax System, Services, Supply of Goods, Taxable Activities, VAT
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: NOV 2020

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

Question

Persons making payments for the supply of goods, works, and services are required by the provision of the Income Tax Act, 2015 (Act 896) to withhold taxes on the gross amount at various rates and pay the same to the Commissioner-General.

Required:
In reference to the above statement, explain what Goods, Works, and Services are.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Income Tax Act, Services, VAT, Works
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: MAR 2024

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Nigeria, Services, Supply, VAT
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: NOV 2021

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

Question

a) State THREE goods and THREE services exempted from VAT.

b) Explain THREE differences between Value Added Tax (VAT) and Withholding Tax. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Services, VAT Exemptions
Level: Level 2

Topic: Value-Added Tax (VAT)
Series: MAY 2018

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

Question

i) What is Taxable Activity under Value Added Tax? (1 mark)

ii) Identify FIVE (5) examples of taxable activities. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghanaian Tax System, Services, Supply of Goods, Taxable Activities, VAT
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: NOV 2020

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

Question

Required:
In reference to the above statement, explain what Goods, Works, and Services are.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Goods, Income Tax Act, Services, VAT, Works
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: MAR 2024

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TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

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TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

You're reporting an error for "TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)"

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

You're reporting an error for "TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)"

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

You're reporting an error for "PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties"

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

You're reporting an error for "PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties"

TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)

Explanation of when goods and services are deemed to be supplied in Nigeria according to section 2 of the VAT Act.

You're reporting an error for "TAX – Nov 2021 – L2 – Q6 – Value Added Tax (VAT)"

TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)

List goods and services exempted from VAT.

You're reporting an error for "TAX – May 2018 – L2 – Q7 – Value Added Tax (VAT)"

PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Define taxable activity under VAT and list examples of taxable activities.

You're reporting an error for "PT – Nov 2020 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties"

PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties

Explain what is meant by Goods, Works, and Services according to the Income Tax Act.

You're reporting an error for "PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties"

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