ACCESS FINANCIAL CONSULTANTS

REVISION QUESTION ON VAT

Complied by;
SHAKIRU ABDUL MTANDA
Ms.AF, CPA, BAC.
Question 1.
a) Value added tax is imposed and payable on taxable supplies and
taxable imports. With examples, list down persons liable for
VAT?
Question 2.
Define the following:
i. Value of supply
ii. Consideration of supply
iii. Imported services
Question 3.
Mention the different types registration under the VAT act
Question 4.
Under what circumstance the intending trader shall be registered by
the commissioner general.
Question 5.
State the due date of logging the VAT return.
Question 6.
Describe the types of VAT and elaborate the methods of calculating
the consumption type VAT
Question 7.
At what time shall the VAT be accounted for?
Question 8.
G is a taxable person indicates through his records that during the
month of April 2024, VAT was paid on his purchase as follows:
TABLE
Value VAT (Exclusive) TZS

a Wheat flour 500,000

b Cooking oil 750,000
c Laundry soap 600,000
d Bags for re-packing soap 100,000
e Tax invoice books 220,500
f Telephone 370,500
g Processed milk 100,000
h Bottled water 120,500
i Sugar 100,000

Also, during the same month, the taxable person supplies goods with
the value indicated below:
Value VAT inclusive (TZS)
a Cooking oil 220,000
b Laundry soap 708,000
c Toilet soap 496,000
d Other soap 320,000
e Processed milk 140,000
f Bottled water 100,000
g Sugar 520,500
Required:
a) Calculate the value of input to be claimed, if any.
b) Calculate the value of output tax.
c) Calculate the Vat liability, if any.
 Question 9.
GEZAULOLE Stores is a company, which is registered for Value Added Tax (VAT).
The company had the following transactions (VAT inclusive where applicable) in the
month of September 2019.
a) Supplies made during the accounting period.
TZS.
School bags 300,000
Wheat flour 1,000,000
Milk 1,000,000
Green vegetable 800,000
Sugar 225,000
Smart phone 255,000
Watches 315,000
Fresh juice 800,000
Beer 1,450,000
Sanitary pads 125,000

Also, during the same prescribed accounting period the following purchase / expenses were
made.
School bags 480,000
Wheat flour 2,000,000
Green vegetables 750,000
Milk 900,000
Transportation of milk 300,000
Sugar 200,000
Refrigerator 1,200,000
Packages for vegetables 105,000
Fresh juice 500,000
Beer 1,800,000
Electricity 200,000
EFD receipt paper rollers 150,000
Telephone bill 200,000

GEZAULOLE Stores had the following information available:

(i) Sales for fresh juice includes deposits for bottles as security for safe return of the
bottles amounted to TZS.100,000.
(ii) Crates of beer worth TZS.180,000 were taken for personal consumption by the
owner of the grocery. The amount was included in the payments received during
the month.
(iii) Milk worth TZS.200,000 was returned by customers and has not been subtracted
from the sales above.

(iv) There was a cash loss of payments received of TZS.200,000, which have not been
 included in the payments.
(v) A deposit for purchases of crates of beer by a customer amounting to
TZS.100,000 has not been included in the gross takings.
Required;
a) State the due date for logging VAT return.
b) Determine the amount to be remitted to the commissioner for VAT.