- SARS updated its VAT guide for foreign electronic service suppliers to reflect recent legislative changes.
- Non-resident individuals can now act as representative vendors for foreign suppliers or intermediaries of electronic services.
- Foreign enterprises from countries with a Double Taxation Agreement with South Africa are exempt from opening a South African bank account, with certain exceptions.
- The definition of “electronic services” has been expanded, and a new definition for “content” was added.
- VAT credits for foreign suppliers will be offset against future liabilities, but will be refunded to a foreign bank account if the supplier deregisters for VAT in South Africa.
Source: regfollower.com
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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