Mr Tembo has shares in XYZ Limited, a company not listed on LuSE. He bought 500,000 shares

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Mr Tembo has shares in XYZ Limited, a company not listed on LuSE. He bought 500,000 shares in 2010 for K2,000,000. He has disposed off 300,000 shares for K3,000,000.

Required:

Calculate the PTT assessable on Mr. Tembo.

How do you explain the realisable value of Shares on disposal regarding assessibility to Property Transfer Tax.

Related Book For answer-question

Financial Accounting Theory

ISBN: 978-0132984669

7th edition

Authors: William R. Scott

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Posted Date: Mar 02, 2021 04:01 AM

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Mr Tembo has shares in XYZ Limited, a company not listed on LuSE. He bought 500,000 shares

Question:

Expert Answer:

The P TT assess able on Mr Tem bo is K 30 000 This can be calcula... View the full answer

Financial Accounting Theory

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