Calculate the VAT amount that must be paid to SARS for the VAT period ended 31 May 2022 - NSC Accounting - Question 2 - 2022 - Paper 2

To calculate the VAT amount to be paid:

1. Start with the initial VAT amount calculated by Harry: R55 785.
2. Adjust this figure by adding the missed items:
   • VAT on goods returned: R5 070
   • VAT on expenses: R6 240
   • VAT on goods taken for personal use: R5 400
   • Total adjustments: R5 070 + R6 240 + R5 400 = R16 710.
3. Subtract any applicable VAT on discount allowed: R18 860.
4. Lastly, calculate VAT on sales that were incorrectly recorded on a total of R31 200, which is zero-rated.

Thus, the total VAT payable is:

$ext{Total VAT} = R55 785 + R16 710 - R18 860 = R53 635$

So, the final VAT amount that must be paid to SARS is R52 875.