Print Page
News & Press: SARS News & Tax Administration

BGR 14: VAT treatment of specific supplies in the short-term insurance industry

Friday, 22 March 2013   (0 Comments)
Posted by: Herman van Dyk
Share |

By SARS Legal & Policy

SARS issued Binding General Ruling (BGR) 14 on 22 March 2013.

This BGR sets out the VAT treatment of the issues listed below which have been highlighted during discussions with the short-term insurance industry:

• The time of supply in relation to the supply of short-term insurance and the related intermediary services
• Alternative documents to be used as a tax invoice in respect of the supply of short-term insurance and the related intermediary services
• Approval to issue recipient-created tax invoices, debit or credit notes
• International transport policies including stock through-put, goods in transit, marine insurance policies and travel coupons
• Hull and associated liability insurance
• Insurance cover provided to South African residents in respect of fixed property and movable property
• Excess payments
• Indemnity payments
• Third party payments
• Recoveries
• Group accident claims
• Reinsurance.

BGR 14 is effective from 1 July 2013 and will apply for an indefinite period.

Click here to download BGR 14.



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.

  • Tax Practitioner Registration Requirements & FAQ's
  • Rate Our Service

    Membership Management Software Powered by YourMembership  ::  Legal