Jaleel is an insurance agent and collects insurance premiums from his clients every month. His total collection of insurance premiums for the month of June 2019, £30,000. Which of the following is correct with regards to the calculation of VAT as per UK tax laws? a. 5% VAT on such Taxable Supplies O b. Exempted Supplies so not VAT O c. 0% VAT on such Taxable Supplies O d. 10% VAT on such Taxable Supplies
Jaleel is an insurance agent and collects insurance premiums from his clients every month. His total collection of insurance premiums for the month of June 2019, £30,000. Which of the following is correct with regards to the calculation of VAT as per UK tax laws? a. 5% VAT on such Taxable Supplies O b. Exempted Supplies so not VAT O c. 0% VAT on such Taxable Supplies O d. 10% VAT on such Taxable Supplies
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 30P
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26-Jaleel is an insurance agent and collects insurance premiums from his clients every month. His total collection of insurance premiums for the month of June 2019, £30,000. Which of the following is correct with regards to the calculation of VAT as per UK tax laws?
a. 5% VAT on such Taxable Supplies
O b. Exempted Supplies so not VAT O c. 0% VAT on such Taxable Supplies
O d. 10% VAT on such Taxable Supplies
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