oa De Rebus - Value-added tax implications of fixed property sales



Sellers and purchasers of fixed property and their attorneys should, before conclusion of a contract, take the provisions of the Value-Added Tax Act 89 of 1991 into account to prevent unpleasant VAT surprises. In this article basic guidelines are given on the VAT treatment of a sale of fixed property and its implications for the seller and purchaser. * Where VAT is payable, whether at the standard rate or the zero rate, transfer duty is in terms of s 9(15) of the Transfer Duty Act 40 of 1949 (TDA) not payable.


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