- 20 Marks
STP – Aug 2012 – L3 – Q5 – Taxable Supplies
Determine when specified transactions become taxable supplies under Act 592.
Question
a). Determine when the following items become taxable supplies under Act 592.
- Imported services
- Supplies made by a non-resident person
- Deposits given in respect of a supply
- Goods supplied on sale or return.
b). The need for Customs, Excise, and Preventive Service (CEPS) to examine goods imported has often been debated since the nature, description, quantity and quality of the goods are in most cases declared in many ways. This practice has its advantages and disadvantages.
Required:
Discuss any four major reasons to support the need for CEPS personnel to examine goods and their relevant documents before export or import.
Find Related Questions by Tags, levels, etc.
- Tags: Anti-Smuggling, CEPS, Customs Examination, Non-Revenue Reasons, Revenue Reasons
- Level: Level 3
- Topic: Strategic Indirect Tax Management
- Series: AUG 2012
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