Summary: Revenue – value-added tax – whether a tax fraction of loan cover payouts qualified for deduction in terms of s 16(3)(c) of the Value-Added Tax Act 89 of 1991 – whether loan cover qualified as a taxable supply – no consideration charged for the loan cover – loan cover supplied in the course of business of providing credit – loan cover qualified as an exempt supply – penalty imposed under s 213 of the Tax Administration Act 28 of 2011 remitted.
Source: saflii.org
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