Pacific Brown Ltd is a listed company on the Suva Stock Exchange. The company manufactures coconut...

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Pacific Brown Ltd is a listed company on the Suva Stock Exchange. The company manufactures coconut furniture and is based in Sigatoka. The company exports furniture to overseas customers and also sells locally. During the month of April, the company made $56,731 (VEP) worth of sales which included $23,231 export sales. The company also incurred the following expenses during the period: Expense Amount (VEP) Glue $150 $260 $3,258 $12,000 $5,600 Varnish Leather cushions Wages Raw Materials Purchases (Coconut Timber) Required: Assuming a 9% VAT rate, calculate the VAT Implications for Pacific Brown Ltd for the month of April. (Show all working). Pacific Brown Ltd is a listed company on the Suva Stock Exchange. The company manufactures coconut furniture and is based in Sigatoka. The company exports furniture to overseas customers and also sells locally. During the month of April, the company made $56,731 (VEP) worth of sales which included $23,231 export sales. The company also incurred the following expenses during the period: Expense Amount (VEP) Glue $150 $260 $3,258 $12,000 $5,600 Varnish Leather cushions Wages Raw Materials Purchases (Coconut Timber) Required: Assuming a 9% VAT rate, calculate the VAT Implications for Pacific Brown Ltd for the month of April. (Show all working).

Answer rating: 100% (QA)

The taxable sales are the total sales less any exempt sales In this case all sales are taxable so th... View the full answer