Category: Politics

Who is liable to pay CGT?
politics
Who is liable to pay CGT?

A: CGT is a tax that is always paid by the seller of a capital asset at a rate of six percent of its gross selling price, zonal value (BIR), or assessed v...

What does end quarter mean?
politics
What does end quarter mean?

The “end of the quarter” refers to the conclusion of one of four specific three-month periods on the financial calendar. The four quarters end in March, o...

Are prize draws VAT exempt?
politics
Are prize draws VAT exempt?

A) Item 1, group 4 of schedule 9 of the VAT Act 1994, states the ‘playing of any games of chance for a prize’ is an exempt supply. ‘Prizes of goods and se...