The long-awaited amendments to the value-added tax Domestic Reverse Charge (“DRC”) Regulations on Valuable Metal were published on 10 May 2024. The amendments apply retrospectively with effect from 1 January 2024 and no transitional rules have been provided in the regulations themselves.
The amendments followed long after a public workshop was held by the National Treasury on 9 December 2022 regarding the tax proposals for the 2023 fiscal year.
Source: ensafrica.com
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