Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

problem 1: Luther is about to commence business as a plumber, and seeks your help regarding problems with Value Added Tax.

Luther has obtained a contract with a local builder to install all the plumbing fittings, sanitary ware and so on for a new housing development.  Luther’s only other income will be from small repair jobs that he will carry out in the evenings.

Luther estimates that his receipts will total Rs2.5M in the first year of business with his only main expense being the purchase of an estate car which he estimates will be used 60% for the business and 40% for private motoring.

Required:

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

b) State with reasons whether Luther has to charge VAT on the work he carries out.

c) Describe how Luther must deal with the VAT on:

i) The materials he purchases for the building contract and the repair work carried out;                
ii) The purchase of motor car;
iii) The petrol purchased for the motor car.

problem 2: Name the institution/s responsible for the licensing, regulation and supervision of the banking sector and the non banking sector.

problem 3: List five functions of the Bank of Mauritius?

problem 4: Banks are under a duty to guarantee strict confidentiality of information however they are compelled to disclose information under certain circumstances.

List such circumstances.

problem 5: Consider the reasons why the stock market in Mauritius is considered attractive.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M96308

Have any Question? 


Related Questions in Basic Finance

Norsk is a danish company that specializes in food product

Norsk is a Danish company that specializes in food product for daily consumption. It has five associated subsidiaries in the European Union and a network of distributors in North America. Recently, the company has decide ...

1 households have a much larger fraction of their savings

1. Households have a much larger fraction of their savings in stocks than in bonds. Can you think of reasons why this is the case? 2. Why might you prefer to lend money to individuals and businesses in your city through ...

Wilsons antiques is considering a project that has an

Wilson's Antiques is considering a project that has an initial cost today of $10,000. The project has a two-year life with cash inflows of $6,500 a year. Should Wilson's decide to wait one year to commence this project, ...

The following excerpt is taken from a publication of the

The following excerpt is taken from a publication of the American Institute of Certified Public Accountants (we won't give the title since it is the answer to one of the questions): Great strides have been made by the FA ...

Define a currency option related terms and pricing

Define a currency option, related terms, and pricing factors.

For the situation described in problem 2 above we expect

For the situation described in problem 2 above we expect elastic interaction loss of 6% and embedment loss of 4%. Compute the revised maximum and minimum preloads ? Sketch the revised, preloaded joint diagram ? Compute t ...

Suppose your company imports computer motherboards from

Suppose your company imports computer motherboards from Singapore. The exchange rate is given in Figure 21.1. You have just placed an order for 30,000 motherboards at a cost to you of 233.5 Singapore dollars each. You wi ...

1 what are the total assets and net income available to

1. What are the total assets and net income available to common shareholders for McDonald's Corp. (ticker: MCD:US) at the end of each of the last five fiscal years? Read this information from the annual financial stateme ...

1 define a multinational corporation mnc what additional

1. Define a multinational corporation (MNC). What additional factors must be considered by the manager of an MNC that a manager of a purely domestic firm is not forced to face? 2. Who are the major players in foreign cur ...

1 distinguish between construct and criterion-related

1. Distinguish between construct and criterion-related validity. 2. Distinguish between convergent and discriminant validity. Do these terms refer to types of construct validity or criterion-related validity?

  • 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