Develop Understand Taxation
Develop Understand Taxation
Develop Understand Taxation
Part II Choose the correct answer for the following given alternatives
Workout
1. During the VAT period, Jupiter shop (which is vat registered person purchase goods worth
of birr 120,000, including VAT with a 15% VAT rate and sales goods at birr 138,000 excluding
VAT with a 15% VAT rate.
Find the VAT payable/refund
2. An importer brought in an electronic. Duty paying value of the imported item is birr
102,000. Custom duty rate is 30% and excise tax rate is 75%. The imported item is subject to
VAT at the rate of 15%.(4point)
Require:
Calculate
A, custom duty tax
B, Excise tax
C, VAT
Answer sheet
Name Section UID
True of False
1 2 3 4 5
Choose
1 2 3 4 5 6 7 8 9 10
Matching
1 2 3 4 5
Infolink University Collage Dilla campus
Department of Accounting and Finance Final Exam Developing
Understanding of Taxationfor1st Year Accounting TVET students
Part II Choose the correct answer for the following given alternatives
Workout
1. During the VAT period, shop X (which is vat registered person purchase goods worth of birr
58,000, including VAT with a 15% VAT rate and sales goods at birr 95,000, excluding VAT
with a 15% VAT rate.
Find the VAT payable/refund
2. An importer brought in an Tobacco. Duty paying value of the imported item is birr 70,000.
Custom duty rate is 95% and excise tax rate is 100%. The imported item is subject to VAT at
the rate of 15%.(4point)
Require
Calculate
A, custom duty tax
B, Excise tax
C, VAT
Answer sheet
Name Section UID
Matching
1 2 3 4 5
True of False
1 2 3 4 5
Choose
1 2 3 4 5 6 7 8 9 10