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Tax on supplies
12-15-2011, 03:37 AM
Post: #1
Tax on supplies
A private limited company can adjust tax on supplies or it is a final tax ?
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12-15-2011, 03:05 PM
Post: #2
 
According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company

So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.
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06-12-2014, 12:45 AM
Post: #3
RE: Tax on supplies
According to section 153(3), Tax deducted under section 153(1)(a) [on supplies], shall only be adjustable if the recipient is (i)a company AND 9(ii) that such company is either manufacturer of such goods or a listed company

So where company is a manufacturer, tax deducted on supplies is NOT final tax.
Where a company is a listed company, tax deducted on supplies is NOT final tax
Where company is trader, tax deducted on supplies is final tax.

I agree with this reply , it is a satisfied one.
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