- Restricted exports are goods subject to restriction on exportation.
- Goods pending exportation and are stored in a customs area with proper permission of a custom officer.
- Goods which have been seized or are under a notice of seizure.
- Dutiable goods where duty has not been paid.
- Goods subject to export duty from the time of giving them to the party for export to the time of exportation.
- Goods in bonded warehouse.
- Goods under draw back from time of claim of drawback
Wilfykil answered the question on February 15, 2019 at 07:49
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Identify four documents required in support of an application for refund of value added tax (VAT) paid in respect of bad debts
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Date posted:
February 15, 2019
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February 15, 2019
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Beta Supermarket Ltd. is registered for VAT. During the month of January 2013, the supermarket had the following transactions
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(Solved)
Beta Supermarket Ltd. is registered for VAT. During the month of January 2013, the supermarket had the following transactions
January
1 Sold goods on credit to Mwamba Enterprises for Sh. 400,000.
2 Purchased goods on credit from Hekima Traders for Sh. 200,000
2 Paid for catering expenses Sh. 68,000 by cash
3 Mwamba Enterprises returned goods valued at Sh.60, 000, and received a credit note.
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5 Purchased stationery for Sh. 84,000 on credit from Smart Books Bookshop.
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20 Engaged an auditor and paid him Sh. 60,000 for auditing the supermarket‘s inventory.
21 Sold goods worth Sh. l,400,000 to the Ministry of Youth and Sports
24 Bought spare .parts for repair of motor vehicles for Sh. 120,000
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30 Made cash sales of Sh. 200,000 and banked the cash on the same day
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Date posted:
February 15, 2019
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Answers (1)
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(Solved)
Outline four offences under the value added tax (VAT) Act
Date posted:
February 15, 2019
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Answers (1)
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The VAT Act requires a registered person to notify the commissioner' within 14 days of changes in certain particulars of a business.
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(Solved)
The VAT Act requires a registered person to notify the commissioner' within 14 days of changes in certain particulars of a business.
Suggest six such changes whose details need to be notified to the commissioner
Date posted:
February 15, 2019
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Answers (1)
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Evaluate four measures under Customs and Excise Act that are designed to prevent dumping in your country
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Date posted:
February 15, 2019
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February 15, 2019
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February 15, 2019
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(Solved)
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Date posted:
February 15, 2019
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Highlight four circumstances under which the government might revoke the licence of a manufacturer of excisable goods.
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Date posted:
February 15, 2019
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February 15, 2019
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February 15, 2019
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Summarize four details that are required to accompany the list submitted to the revenue authority on employees who have received lump sum payment from the employer.
Date posted:
February 15, 2019
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Explain the following terms in the 'context of customs and excise duty:
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(Solved)
Explain the following terms in the 'context of customs and excise duty:
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Date posted:
February 15, 2019
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Answers (1)
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Ujenzi Limited maintained the following assets in its fixed registers as at 31 December 2007
Determine Capital allowances due to Ujenzi limited for the year ended...
(Solved)
Ujenzi Limited maintained the following assets in its fixed registers as at 31 December 2007


Determine Capital allowances due to Ujenzi limited for the year ended 31 December 2007
Date posted:
February 14, 2019
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Answers (1)
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Limo Limited prepares its accounts to 31 December each year. The company‘s trading profit and loss account for the year ended 31 December 2007 is...
(Solved)
Limo Limited prepares its accounts to 31 December each year. The company‘s trading profit and loss account for the year ended 31 December 2007 is presented below

Determine:
i) Capital allowances due to Limo Limited for the year ended 31 December 2007
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iii) Tax liability (if any) from the profit (or loss) computed in (ii) above
Date posted:
February 14, 2019
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Answers (1)
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Citing two reasons, argue the case against capital allowances in an economy
(Solved)
Citing two reasons, argue the case against capital allowances in an economy
Date posted:
February 14, 2019
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Answers (1)
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Faza Ltd. a large scale manufacturing company, has provided you with the following information for the year ended 31December 2010
Compute for Faza Ltd. for the...
(Solved)
Faza Ltd. a large scale manufacturing company, has provided you with the following information for the year ended 31December 2010



Compute for Faza Ltd. for the year ended 31 December 2010:
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Date posted:
February 14, 2019
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Answers (1)
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Heshima Ltd. commenced operations on 1 January 2011 after incurring the following expenditure
Compute for Heshima Ltd. for the year ended 31 ended 2011
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ii)...
(Solved)
Heshima Ltd. commenced operations on 1 January 2011 after incurring the following expenditure


Compute for Heshima Ltd. for the year ended 31 ended 2011
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Date posted:
February 14, 2019
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Answers (1)