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

Students guide in writing the grleb course worktitle

Student's Guide in Writing the GRLEB Course work Title: SELECTED TYPES OF COMPANIES WITHIN THE SCOPE OF COMMERCIAL LAWS Your paper must be in paragraph form with standard margin in each side. The four parts of the paper ...

Selin amp wolfgang present five victim typologies choose a

Selin & Wolfgang present five victim typologies. Choose a current news article from either a newspaper or magazine. Define each of the victim typologies and discuss how the article illustrates those. Discuss the differen ...

Case law analysis contract lawresearch federal and state

Case Law Analysis: Contract Law Research federal and state court cases pertaining to the topic of contract law. Select one court case and write an analysis that addresses the following: 1. Articulate the importance, cont ...

Supervisory practices in criminal justice essayanalyze

Supervisory Practices in Criminal Justice Essay Analyze organizational culture as it relates to the supervision of criminal justice entities. Write a 2-4-page paper (excluding cover page) responding to the following: Off ...

Assignment - environmental issues faced by business and

Assignment - Environmental Issues Faced by Business and Society Research and explain the importance of an environmental issue (fracking, hazardous waste disposal, oil pipeline leaks, deforestation, etc.) faced by busines ...

Read the following fraud case first nationwide bank v gelt

Read the following fraud case: First Nationwide Bank v. Gelt Funding Corp., 820 F. Supp 89 (1993) Prepare a case brief of this case. Include the following components: Case name and citation The procedural history - what ...

Each student will be required to complete the term project

Each student will be required to complete the term project, which is a 8-12 page APA Style paper. Your paper should have at least 8-12 pages of substance not counting the cover and reference pages. Please be sure that yo ...

Managing criminal justice organizations essaychanging times

Managing Criminal Justice Organizations essay Changing Times: Police Functions and Technological Changes If you could look back in time to 60 years ago, you would see a totally different make-up and focus of police offic ...

Response to this discussion post with at least 200 words

Response to this discussion post with at least 200 words. Needs reference to back up response. The United States maintains a complex network of law enforcement agencies at the local, state and federal levels. These agenc ...

Information security and digital crime and terrorism please

"Information Security and Digital Crime and Terrorism" Please respond to the following: From the first e-Activity, identify one to two (1-2) potential ethical challenges that security professionals may face as technology ...

  • 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