Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Law & Ethics Expert

Problem1. Are tax incentives inherently undesirable or more simply vulnerable to misuse? Discuss this problem by considering arguments for and against the employ of tax incentives.

Luther is about to commence business as the plumber, and seeks your aid regarding problems with Value Added Tax. Luther has acquired a contract with a local builder to install all the plumbing fittings, sanitary ware, and so forth. for a new housing development. Luther’s only other income will be from small repair jobs which he will perform in the evenings. Luther estimates which his receipts will total Rs2.5M in the first year of business with his only major expenditure being the purchase of an estate car which he estimates will be used 60% for the business and 40% for private motoring.

Required:

problem1. State what advice you would give to Luther regarding whether or not he has liability to be registered for VAT and describe fully the rules which govern registration.

problem2. State with reasons whether Luther has to charge VAT on the work he performs.

problem3. Describe how Luther should deal with the VAT on:

(i) The materials he purchases for the building contract and repair work performs;

(ii) The purchase of motor car;

(iii) The petrol bought for motor car.

problem4. describe clearly why it might be to a person’s advantage to register voluntarily as taxable person for VAT purposes when there is no legal requirement for him to do so.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M94529

Have any Question? 


Related Questions in Business Law & Ethics

Key playersgloria has now been in business for 2 years her

Key Players Gloria has now been in business for 2 years. Her business is called International Widgets, and she employs more than 300 people in the business headquarters. In the early stages of the business, she created a ...

Assignment the future of digital crimes and digital

Assignment: The Future of Digital Crimes and Digital Terrorism In the United States, a number of law enforcement agencies, including the Secret Service, the Federal Bureau of Investigation (FBI), and the Department of Ho ...

For this assignment you are to choose a legal issue

For this assignment, you are to choose a legal issue surrounding personnel managers in the fire service, or an issue within the workforce of the twenty first century. These may include: Managing diversity The handling of ...

Disclosures by business entities about government

Disclosures by Business Entities about Government Assistance 1- Double spaced, 12 pt font, 1" margins all around 2- FORMAL DOCUMENTS ARE NEVER RIGHT JUSTIFIED. Justify left margin only. 3- Cover page, abstract, introduct ...

The legal environmentplease respond to the

The Legal Environment Please respond to the following: • Select a small business with which you are familiar and discuss the most likely forms of business law it would need to be concerned about. Provide specific example ...

Primary task response within the discussion board area

Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your cla ...

Complete research on correction ideologies and current

Complete research on correction ideologies and current correctional trends. In a 3 page paper, compare and contrast correction ideologies to current correctional trends. In your paper include a title sheet and 3-5 refere ...

Please visit the us small business administrations website

Please visit the U.S. Small Business Administration's website here -  SBA , find the information about franchising and answer the following questions: https://www.sba.gov/ 1) List the two primary forms of business franch ...

1 what factors should be considered when doing a

1. What factors should be considered when doing a cost-benefit analysis of a proposed study? 2. What is the purpose of the Institutional Review Board? 3. When is it not necessary to obtain informed consent?

When sentencing an offender a judge must evaluate a number

When sentencing an offender, a judge must evaluate a number of different variables to impose an appropriate course of punishment or treatment. Using the textbook, library, Internet, or Web resources, research the variabl ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro