In Commissioner for the South African Revenue Service v Capitec Bank Limited (94/2021) [2022] ZASCA 97 (21 June 2022) the Supreme Court of Appeal ruled that Capitec Bank Limited (‘Capitec’) could not deduct input tax in respect of loan cover payouts to borrowers. This article considers the case, in particular the court’s views on Capitec’s VAT equilibrium.
Source Pieter van der Zwan
