Key VAT proposals are:
- Updating of VAT on electronic services regulations in line with international trends.
- An exception from the requirement to register as a VAT vendor in terms of the electronic services regulations, based on ‘once-off’ surpassing of the ZAR 1 million registration threshold.
- Further reviews of certain previous section 72 directions (directions to overcome difficulties, anomalies or incongruities).
Source: bowmanslaw.com
