29Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities. ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities. iii. The VAT rate Exempt supplies is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. a.None of the above B.i, ii and iv c. i, and iii d. i only
29Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities. ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities. iii. The VAT rate Exempt supplies is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. a.None of the above B.i, ii and iv c. i, and iii d. i only
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 20MCQ
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29Which of the following statements are NOT correct?
i. A registered taxpayer can claim input tax credit for items used for its exempt activities. ii. A registered taxpayer can claim input tax credit for items used for zero-rated activities. iii. The VAT rate Exempt supplies is 0%.
iv. Zero-rated goods or services are taxable for VAT at 0%.
a.None of the above
B.i, ii and iv
c. i, and iii
d. i only
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