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

Progress: 0%

40 questions remaining

Question 1 of 40Assessment

A law firm provides legal services for a share issue (taxable) and for an exempt property sale. How must it attribute the input VAT on its general office overheads?

A. Directly attribute to the share issue, as it is the primary activity.

B. Directly attribute to the exempt property sale, as it is a high-value transaction.

C. Treat it as residual input tax and apportion it using a fair and reasonable method.

D. The input VAT is fully irrecoverable as it relates to exempt activities.

Keyboard Shortcuts

↑↓Navigate options

EnterSelect answer

←→Prev/Next question

SSkip question

1-4Select A-D

EscClear answer

SpaceNext question

BackspacePrevious question