Q: Please can you
let me know if the proposed amendment for the claiming of input tax from a non
VAT vendor went through in the Budget announcement. I have a few clients that
just want to prepare for it, and I cannot find any document after the 2014
budget speech proposal.
A: Please see
section 95(1)(b) of the 2014 Taxation Laws Amendment Act below:
You can see ‘goods containing gold’ have now also been
excluded from the definition of 2nd hand goods; thereby disallowing a notional
input VAT credit on such items purchased from non-vendors.
Other than this, there are no other changes regarding this
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