Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities. ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities. iii. The VAT rate Exempt supplies is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. Question 6Answer a. i, ii and iv b. i, and iii c. i only d. None of the above
Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities. ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities. iii. The VAT rate Exempt supplies is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. Question 6Answer a. i, ii and iv b. i, and iii c. i only d. None of the above
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 20MCQ
Related questions
Question
Which of the following statements are NOT correct?
i. A registered taxpayer can claim input tax credit for items used for its exempt activities.
ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities.
iii. The VAT rate Exempt supplies is 0%.
iv. Zero-rated goods or services are taxable for VAT at 0%.
Question 6Answer
a.
i, ii and iv
b.
i, and iii
c.
i only
d.
None of the above
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