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Business, 13.07.2021 16:50 xcji7384

Lucy manufacturing company is Vat registered company operated in Ethiopia to produce chemicals and earned revenue of 3.5 million including Vat. The company paid birr 20,000 and 35,000 for excise tax and customs duty tax respectively. The company is entitled to 30% profit tax. During the same period, the company paid birr 500,000 for the purchase of raw materials before vat. In addition to this, the company paid an expense of 1 million birrs for administrative and other overhead expenses. Instruction 1. Determine direct tax and indirect tax liability of the company 2. List out the possible documents that are used to assess the liability

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Lucy manufacturing company is Vat registered company operated in Ethiopia to produce chemicals and e...

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