Project one: KalebPLC is a famous merchandizing business which is engaged in purchasing and selling of various products located at Adamatown. As per the Ethiopian tax regulation, The PLC is a VAT registered and during the month of December 2015 the following information is related to the business activities of Kaleb PLC. Assume that profit tax is 30% of and the PLC will pay taxes to Inland Revenue on regular basis . Purchase of products for the month of December including VAT birr 215,000 Sales made during the month excluding VAT 540,000 Employee payroll taxfor the month of December birr 25,000 Business income before tax birr 80,000 Excise tax birr 5,000 TASKS 2.1 Determine the indirect tax liability of the business for the given month TASKS 2.2 Determine the direct tax liability of the company TASKS 2.3 Understanding how to present tax to inland tax authority
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