Summary: Revenue – value-added tax – whether a tax fraction of loan cover payouts qualified for deduction in terms of s 16(3)(c) of the Value-Added Tax Act 89 of 1991 – whether loan cover qualified as a taxable supply – no consideration charged for the loan cover – loan cover supplied in the course of business of providing credit – loan cover qualified as an exempt supply – penalty imposed under s 213 of the Tax Administration Act 28 of 2011 remitted.
Source: saflii.org
Latest Posts in "South Africa"
- SARS VAT Ruling: Approved Apportionment Methods for Home Shopping Retailer’s Mixed Supplies
- South Africa Faces Record VAT Debt Crisis, Personal Liability and Criminal Charges Loom for Non-Compliance
- Proposed VAT Law Change Threatens Financial Stability of South African Private Schools
- South Africa Considers Raising VAT Registration Threshold Amid Calls for Reform and Modernisation
- South Africa Proposes 20% National Tax on Online Gambling Revenue
