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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

An agent deducts tax from a supplier payment, then uses the amount to buy inventory and files no withholding return. It argues that the payee received less cash, so its entire duty is complete. Which is correct?

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Inventory purchases automatically remit tax Only the payee can file any relevant return A supplier cannot ever be subject to withholding The agent remains obliged to keep the trust funds separately and comply with return and remittance duties

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