n IMFO : Official Journal of the Institute of Municipal Finance Officers - VAT pending amendenments affecting municipalities

Volume 6, Issue 4
  • ISSN : 1607-520X



Extracted from text ... 28 IMFO ? Winter 2006 In terms of the present provisions of the VAT Act ("the Act"), "taxable supplies" by municipalities are limited to activities specifically listed in section 1. No input tax may be claimed on expenses incurred in connection with any goods or services supplied that does not constitute "taxable supplies". As a consequence of this, together with the fact that some expenses are incurred partly for the making of "taxable supplies" and partly for other purposes, municipalities are left with a complicated VAT administration in respect of the apportionment of input tax. The proposed amendments include ..

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