Print Page   |   Report Abuse
News & Press: VAT

Interpretation Note 82: Input tax on motor cars

26 March 2015   (0 Comments)
Posted by: Author: SARS
Share |

Author: SARS

SARS released Interpretation Note 82 on the 25th of March 2015.

The purpose of Interpretation Note 82 is to set out:

  • interpretation of the definition of "motor car”; 
  • general principle that VAT incurred on the acquisition of a motor car is not permissible as an input tax deduction; 
  • exceptions to the general principle, that is, when an input tax deduction is allowed on the acquisition of a motor car; 
  • instances when input tax may be deducted on the acquisition of accessories, modifications and conversions to motor cars; 
  • application of change in use adjustments to motor cars; and 
  • VAT treatment of motor cars supplied as a fringe benefit.

Please click here to access Interpretation Note 82.  


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

Membership Management Software Powered by YourMembership  ::  Legal