Vatable Product – NBC Institute

TAX – Nov 2018 – L1 – SA – Q12 – Value Added Tax (VAT)

Calculate the output VAT for a vatable product sold to a final consumer.

Question

In 2018, a vatable product was sold to a final consumer for N210,000 (VAT inclusive). The output VAT was:
A. N10,500
B. N10,000
C. N7,500
D. N5,000
E. N2,500

Answer

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Tags: Nigerian Tax System, Output VAT, VAT Calculation, Vatable Product
Level: Level 1

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

Question Tag: Vatable Product

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TAX – Nov 2018 – L1 – SA – Q12 – Value Added Tax (VAT)

Calculate the output VAT for a vatable product sold to a final consumer.

TAX – Nov 2018 – L1 – SA – Q12 – Value Added Tax (VAT)

Calculate the output VAT for a vatable product sold to a final consumer.

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Question Tag: Vatable Product

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TAX – Nov 2018 – L1 – SA – Q12 – Value Added Tax (VAT)

Calculate the output VAT for a vatable product sold to a final consumer.

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TAX – Nov 2018 – L1 – SA – Q12 – Value Added Tax (VAT)

Calculate the output VAT for a vatable product sold to a final consumer.

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