Tax Trivia

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Tax Trivia

Tax Trivia

#1. Which of the following facts is not true about VAT

VAT on credit transactions is payable only when cash is collected

Its is payable on monthly basis

VAT is a multi-stage tax

Excess VAT payment is claimable

#2. Which of the following professionals is not qualified to act as a tax agent?

A former KRA employee

An advocate of the high court

An accountant registered under ICPAK

A Cyber technology expert

#3. The following is true about motor vehicle advance tax except

It is not a final tax

Is payable on commercial vehicles

Is due on 20th of January

Passenger vehicles are not required to pay

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