Description
TAX3701 ASSIGNMENT 2 SEMESTER 1 – 2023 (699738)
QUESTION (40 marks)
Lebelok (Pty) Ltd (“Lebelok”) is a company that is incorporated in South Africa and operates in the automobile industry. Lebelok is in the business of manufacturing, supplying and providing maintenance services of heavy vehicle engines. The South African Revenue Service (SARS) approved the company’s production process as a “process of manufacture”. The company is registered as a vendor for Value-Added Tax (VAT) purposes making only taxable supplies. Lebelok is not a small business corporation as defined in s12E of the Income Tax Act.
All amounts exclude VAT except if stated otherwise.
luyandamkhize –
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