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

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 ...

Ethics assignmentimagine yourself in 5 years as an

Ethics Assignment Imagine yourself in 5 years as an experienced RN. The Day Surgery Center/Dialysis Center/Community Hospital (take your pick) where you have been employed since graduating from GCC, is closing. You have ...

Answer each question with 300 word minimum-criminal justice

Answer each question with 300 word minimum-Criminal Justice. Reply to each question with 300 word minimum. 1. How would you encourage and/or facilitate communication between yourself as a first-line supervisor and your s ...

Discussion response at least 275 words to the message below

Discussion response at least 275 words to the message below including cited information and any information to support your response. Where does court consolidation differ from court restructuring? How does court consoli ...

Assignment 1 research the internet and find a celebrated

ASSIGNMENT 1: Research the Internet and find a celebrated criminal prosecution case to analyze, such as a criminal case that received media attention. This case must have proceeded to trial; it cannot have been plea barg ...

Question 1 evaluate the appeals process for death penalty

Question 1: Evaluate the appeals process for death penalty cases. Do you think the process is too long, too short, or totally appropriate? Be sure to include specific reasons to support your stance on the process. Your r ...

Business law common law assignmentstudents should read the

BUSINESS LAW COMMON LAW ASSIGNMENT Students should read the instructions accompanying this assignment before attempting to solve the following problems. 1. La Trobe University organises an "End of the Year Ball" for staf ...

Ethical moral relativismin america many are comfortable

Ethical (Moral) Relativism In America, many are comfortable describing ethics as follows: "Well, what's right for me is right for me and what's right for you is right for you. Let's just agree to disagree." This is an af ...

Multiple choice questions 1 by 1750 often criminals

Multiple Choice Questions 1. By 1750, ______ , often criminals themselves were motivated by reward money and their ability to confiscate the possessions of the criminal. a. thief-takers b. vagabonds c. crooks d. watchmen ...

Section one essay portion1 in this course we discussed at

Section One: Essay Portion 1. In this course we discussed at length the issue of governmental regulation of abortion in the United States, Canada and Germany. For each nation (the United States, Canada and Germany) and c ...

  • 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