- 10 Marks
PT – Mar 2024 – L2 – Q5a – Value-Added Tax (VAT), Customs, and Excise Duties
Explain what is meant by Goods, Works, and Services according to the Income Tax Act.
Question
Persons making payments for the supply of goods, works, and services are required by the provision of the Income Tax Act, 2015 (Act 896) to withhold taxes on the gross amount at various rates and pay the same to the Commissioner-General.
Required:
In reference to the above statement, explain what Goods, Works, and Services are.
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- Topic: Value-Added Tax (VAT), Customs, and Excise Duties
- Series: MAR 2024
