Senior Indirect Tax (VAT / GST)

Test your Senior-level Taxation Indirect Tax Vat Gst skills in Specialized Accounting Areas. This timed assessment evaluates your expertise in Accounting.

Duration: 5 minutes

•40 questions

Time Remaining: 05:00

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40 questions remaining

Question 1 of 40Assessment

A partially exempt business's input tax attributable to exempt supplies is below the 'de minimis' limit. What is the implication for their input VAT recovery?

A. They must still block all input tax on exempt supplies from recovery.

B. They can treat all their input tax, including that on exempt supplies, as recoverable.

C. They can recover 50% of the input tax attributable to exempt supplies.

D. They must use a special method approved by the tax authority for recovery.

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