Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Law & Ethics Expert

Problem: You have recently received a letter from the managing director of a newly-created business (which will make no exempt supplies and will have no dealings outside Mauritius) requesting your help with matters concerning Value Added Tax (VAT). The following is extract from the letter:

a) We understand that some businesses are registered for VAT whilst others are not registered. We have only recently commenced trading and consider that it will take us about five years to reach full potential sales, which we envisage from Rs 1 m to Rs 50 m in that period. Could you please advise us of the position regarding registration?

b) Once we are registered, how should the VAT content of our income and expenditure be reflected in our budgets and final accounts at the year end?                               

c) When and how is VAT to be accounted for to Mauritius Revenue Authority (MRA) and what is the position if we should pay out more VAT than we charge?           

d) What records should be kept by us in order to satisfy the VAT Act?

Required:

Make a letter in response to the above requests.

Business Law & Ethics, Finance

  • Category:- Business Law & Ethics
  • Reference No.:- M96178

Have any Question? 


Related Questions in Business Law & Ethics

Select one of the following us federal pay regulations1

Select one of the following U.S. Federal Pay Regulations. 1. Fair Labor Standards Acts of 1938 2. Title VII of Civil Rights of 1964 3. Age Discrimination in Employment Acts (ADEA) of 1967  4. Rights Act of 1991  5. Famil ...

Criminal law assignmentwrite an essay in response to the

CRIMINAL LAW ASSIGNMENT Write an essay in response to the following topic: The law of criminal attempt is intolerably unclear. Parliament should legislate a clear definition of what constitutes an 'attempt'. Discuss. The ...

1maker manufactures printing presses news a publisher of a

1.Maker manufactures printing presses. News, a publisher of a local newspaper,was interested in purchasing a few presses. Rep, a representative of Maker, metwith Bill, the president of News, to describe the advantages of ...

Assignment - inappropriate behaviormarwan has worked at

Assignment - Inappropriate Behavior Marwan has worked at Studio Five Theme Park as a character actor portraying a swath-buckling pirate. He does not have an employment contract. He loves his job because of his seniority ...

Landlord-tenant lawlarry landlord has recently renovated an

Landlord-Tenant Law Larry Landlord has recently renovated an apartment and has put it on the market to be rented for $800.00 a month. Larry Landlord has been in business for approximately five (5) years and has had both ...

1 according to the principle of informed consent what must

1. According to the principle of informed consent, what must participants be told before soliciting their agreement to participate in a study? 2. What must be done if a research participant is unable to give valid inform ...

Law enforcement agencies are a very attractive target when

Law enforcement agencies are a very attractive target when it comes to litigation. Thus, civil liability is a concern in American policing and will continue to be. Often, civil lawsuits against police are filed when they ...

During the 1970s as result of the attica prison riots and

During the 1970s, as result of the Attica Prison riots and other social forces such as the civil rights movement, changes began to occur within the management of prisons that led to the development of more humane prison ...

Assignment crime scene investigationpreliminary

Assignment: Crime Scene Investigation Preliminary investigations do not necessarily yield enough information to prosecute a criminal case. Despite a thorough preliminary investigation, many cases require a follow - up in ...

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 ...

  • 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