TAX3701 Assignment 2 Semester 2 (18 Sept 2023)

TAX3701 ASSIGNMENT 2 – 2023 SECOND SEMESTER
QUESTION 1 (40 Marks)
Tirisano (Pty) Ltd (“Tirisano”) is a South African resident company that specialises in
the production of aluminium. The aluminium is sold mainly to aluminium window and
door frame manufacturers as well other aluminium products manufacturers. The
company is registered as a category B vendor for Value-Added Tax (VAT) purposes.
The company makes only taxable supplies. The South African Revenue Service
(SARS) considers Tirisano’s manufacturing process as an approved process of
manufacture. Tirisano is not a Small Business Corporation as defined and its financial
year ends on 31 March every year.
All amounts exclude VAT, unless stated otherwise.
The profit before tax for the financial year ended 31 March 2023 amounted to
R4 103 270, before considering the following information: