n Tax Breaks Newsletter - VAT & warranties - some critical developments!
|Article Title||VAT & warranties - some critical developments!|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Dec 2005|
Extracted from text ... SARS has recently released proposed amendments to the VAT Act to deal with the VAT treatment of warranties, advised Deloitte in a recent VATFlash. After the first round of comments, on 3 October 2005 SARS released what appears to be final draft legislation. Deloitte recommends that vendors look at the paragraphs below and decide as a matter of urgency whether they are comfortable that these proposed changes would allow their companies to apply the zero rate in respect of crossborder warranty transactions. It is important to study these amendments to ensure, says Deloitte, that your organisation may apply the ..
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