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Calculate both the selling price and the vat portion

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Reference no: EM133326504

Question 1: What is the difference between input tax and output tax in terms of Value Added Tax?

Question 2: Several business transactions do not attract Value Added Tax. List any five such transactions.

Question 3: An item with a selling price of R234.50 ex VAT was sold. Calculate both the selling price and the VAT portion of the sale. (3)

Reference no: EM133326504

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