- BGR 69 issued under VAT Act
- Defines terms like “depositor,” “principal,” “recipient,” etc.
- Purpose is to set out particulars for agents under section 54(2C)
- Background on gold refineries acting as agents for depositors
- Gold from multiple depositors is co-mingled during refining process
- Importance of accurate VAT accounting for gold sales
- Section 54(2C) prescribes acceptable documentary evidence for agents
- Section 54(3) requires agents to maintain records for gold supplies and exports
Source: sars.gov.za
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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