The entitlement of a vendor to claim a deduction of input tax or to claim a deduction of a notional amount is a central feature of the South African VAT system. In order for an amount to comprise “input tax”, the amount must meet the following requirements: ..
Source: ensafrica.com
Latest Posts in "South Africa"
- VAT Fraud Syndicate Threatens South Africa’s Economy, Costs Billions in Lost Revenue and Market Share
- SARS Limits E-Commerce Imports Under Customs Code 70707070 to R150,000 Per Year for Individuals
- How Edward Kieswetter Helped South Africa Avoid a 2% VAT Increase Through Tax Modernisation
- South Africa Clarifies VAT on Sale of Fixed Assets and Joint Venture Interests
- SARS Clarifies Tax on Reinsurance Business Transfer to Nonresident Branch; Dividend and VAT Implications
