- The South African Revenue Service issued VAT Ruling No. VR 015 on March 31.
- Furnished student accommodations provided by building developers are classified as commercial accommodation and subject to the standard VAT rate.
- Developers can deduct qualifying input tax on construction and development costs.
- The standard VAT rate applies to student lease payments.
Source: news.bloombergtax.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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