n IMFO : Official Journal of the Institute of Municipal Finance Officers - VAT - interpretation note on amendments

Volume 7, Issue 1
  • ISSN : 1607-520X



Extracted from text ... 18 IMFO ? Spring 2006 The objective of the amendments was primarily to provide additional income to municipalities by unlocking input tax that related to non-enterprise activities that could formerly not be claimed. The amendments were also intended to simplify the municipalities' VAT administration. Although it would be fair to say that the amendments achieved the stated objectives, it would be very risky to assume that the administration of VAT within municipalities will now be a simple matter. The fact that SARS have deemed it necessary to prepare a 26 page Interpretation Note in an attempt to clarify the implications ..

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