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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › sales tax
is sales tax a capital or a revenue expense?
Assuming that the business is registered for sales tax, then it is not an expense of any sort!!
You must watch my free lectures on this.
Q1.purchase of goods for 10000 plus 15 percentage sales tax…
D1. 1500/= is the sales tax that should be paid by the trader to the government,then for which price does the trader sell the goods to the customer?
10000 or 11500/=
11,500.
I really do suggest that you watch my free lectures on sales tax. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.