Question: Question 4 Read through the following statements and decide whether they are True OR False. Record your answers as follows: For example - 4.6. True

Question 4 Read through the following statements and decide whether they are True OR False. Record your answers as follows: For example - 4.6. True or 4.6. False. (5 Marks) 4.1 VAT was previously levied at 14% in South Africa, the current rate is now 15%. 4.2 It is compulsory for every single business in South Africa to register for VAT. 4.3 Output VAT mainly deals with sales and sales returns. 4.4 Input VAT mainly deals with purchases and purchases returns. 4.5 The three VAT bases are: Invoice base, income base and payment base

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