1887

n Professional Accountant - Claiming input tax on prizes & promotional gifts : CPD points - 15 min

Volume 2008 Number 1
  • ISSN : 1680-7537

Abstract

An amendment, effect from 1 February 2006, which inserted paragraph (ix) to section 17(2) (a) of the Value-Added Tax Act ("the Act"), was mainly intended for vendors conduct betting businesses where entertainment is continuously or regularly supplied as competition prizes to promote other products normally supplied by that vendor. Regardless of the initial intention, this provision could be applied to once-off events that have an entertainment prize, provided the transaction gives rise to the prize being a betting transaction.

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/content/account/11/1/EJC16795
2008-11-01
2019-11-18

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