n Tax Breaks Newsletter - Non-executive directors could face substantial VAT liability : value-added tax
|Article Title||Non-executive directors could face substantial VAT liability : value-added tax|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Oct 2015|
|Pages||2 - 3|
Non-executive directors who received fees and other consideration exceeding R1 million in a 12-month period and failed to register for Value-added Tax (VAT) could face a VAT liability, penalties, and interest running into hundreds of thousands of rands, according to an industry expert.
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