Tax Compliance Assessment - Pure Placements

Welcome to your Advanced Excel Assessment - Please note that you will only have one chance to answer the questions within the 15-minute time limit, please take care when answering - as one wrong question is the difference between passing or failing.

The timer will start as soon as you click next.

Good Luck!

Name & Surname

Which of the following statements about Value-Added Tax (VAT) is true?

Businesses with an annual turnover of less than R1 million are not required to register for VAT

VAT is only payable on goods that are imported into South Africa

VAT is levied at a flat rate of 15% on all goods and services

VAT is a tax on the value added to goods and services at each stage of production and distribution

None

When is the deadline for submitting Provisional Tax Returns for companies in South Africa?

31 March

30 September

28 February

31 August

None

Which of the following software is used for payroll processing in South Africa?

Easy File

GreatSoft

Accfin

SARS E-Filing

None

Which of the following is not an example of tax evasion?

Failing to register for VAT

None of the above

Understating income on a tax return

Claiming false deductions on a tax return

None

What is the purpose of completing and submitting an IT14SD form?

To amend a previously submitted tax return

To apply for a tax clearance certificate

To request a refund from SARS

To disclose information about transactions with related parties

None

What is the purpose of completing and submitting objections and appeals against SARS assessments?

To submit VAT returns

To register the taxpayer for Income Tax

To calculate and submit EMP201 and EMP501 returns for employers

To dispute incorrect tax assessments

None

What is the purpose of completing and submitting EMP201 returns for employers?

To calculate the employee's tax liability

To submit objections and appeals against SARS assessments

To calculate and submit provisional tax returns for employers

To register the employer for VAT

None

What is the purpose of attending to SARS reviews and audits?

To register the taxpayer for Income Tax

To calculate and submit provisional tax returns for employers

To dispute incorrect tax assessments

To calculate the employee's tax liability

None

What is the penalty for late submission of EMP201 and EMP501 returns?

R500

R250

10% of the total amount due

R1,000

None

10.

What is the purpose of registering individuals, companies, and trusts for Income Tax, Payroll (PAYE), and VAT?

To calculate and submit EMP201 and EMP501 returns for employers

To submit objections and appeals against SARS assessments

To register the taxpayer with SARS

To determine the tax liability of the taxpayer

None

11.

Which of the following payroll taxes are payable by an employer in South Africa?

Skills Development Levy (SDL)

Unemployment Insurance Fund (UIF)

Value-Added Tax (VAT)

Income Tax (IT)

None

12.

What is the main purpose of SARS E-Filing?

To provide tax advice to clients

. To file tax returns manually

To register individuals and companies for Income Tax

To file tax returns electronically

None

13.

Which software listed below is used for tax compliance and accounting in South Africa?

GreatSoft

VIP Payroll

Easy File

Simple Pay

None

14.

What is the main purpose of VAT reconciliation?

. To calculate the VAT liability of the taxpayer

To submit objections and appeals against SARS assessments

To calculate and submit EMP201 and EMP501 returns for employers

To register the taxpayer for VAT

None

15.

Which of the following documents should be kept on record for at least 5 years in case of a SARS audit?

Invoices

Payslips

Bank statements

All of the above

None

16.

Which form should be used to register for Income Tax as an individual taxpayer in South Africa?

VAT101

IRP5

IT77C

None of the above

None

17.

Which of the following statements about tax audits is true?

Tax audits are always conducted on-site at the taxpayer's premises

Taxpayers are not required to provide any documentation or information during a tax audit

Taxpayers have the right to appeal against an assessment made during a tax audit

Tax audits are only carried out on businesses that are suspected of tax fraud

None

18.

What is the purpose of submitting a Notice of Objection to SARS?

To register for PAYE

To request a tax clearance certificate

To apply for a VAT refund

To dispute an assessment made by SARS

None

19.

What is the purpose of completing and submitting Provisional Tax Returns for individuals, companies, and trusts?

To submit objections and appeals against SARS assessments

To determine the tax liability of the taxpayer

To register the taxpayer for Income Tax

To calculate and submit EMP201 and EMP501 returns for employers

None

20.

Which software from the list below is used for submitting tax returns electronically in South Africa?

Simple Pay

VIP Payroll

GreatSoft

Easy File

None

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