VAT: Special dispensation for motor dealers expired
Motor dealers may in certain instances pay an amount to a customer for a second-hand vehicle over the generally accepted trade-in market value reflected in the Auto Dealers’ Guide (motor dealers usually determine the market value of second-hand vehicles according to a publication known as the “Auto Dealers’ Guide”). The difference between this value and […]
Do You Know The Different VAT Supplies?
There are a few instances where VAT is not charged at the standard rate of 15%. In the following article, we distinguished between the different supplies that attract VAT but does not necessarily have the impact of a standard rate supply. Denied Supplies The VAT Act provides for certain expenses where input VAT is denied, even if […]