oa De Rebus - Value-added tax implications of fixed property sales
|Article Title||Value-added tax implications of fixed property sales|
|© Publisher:||Law Society of South Africa|
|Affiliations||1 VAT consultant in Pretoria.|
|Publication Date||Mar 1998|
|Pages||57 - 59|
|Keyword(s)||Fixed property sales and Value-added tax implications|
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.
Article metrics loading...