SEVENTH SCHEDULE TO THE ACT – PARAGRAPHS 2(e) AND 10(1)(b)
SECTIONS 7, 9(7), 10(13) AND 18(3) OF THE VAT ACT
The ruling made in connection with the proposed transaction is as follows:
a) The value of the supply of the asset management services as contemplated in
section 10(13) read with section 9(7) of the VAT Act will be the cash equivalent
as determined in paragraph 10(1)(b) of the Seventh Schedule to the Act.
b) The cash equivalent of the asset management services as contemplated in
paragraph 10(1)(b) of the Seventh Schedule is the marginal cost of rendering
those asset management services to the employees.
Source: sars.gov.za
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