VATupdate

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Updating of VAT on electronic services regulations in line with international trends

Key VAT proposals are:

  • Updating of VAT on electronic services regulations in line with international trends.
  • An exception from the requirement to register as a VAT vendor in terms of the electronic services regulations, based on ‘once-off’ surpassing of the ZAR 1 million registration threshold.
  • Further reviews of certain previous section 72 directions (directions to overcome difficulties, anomalies or incongruities).

Source: bowmanslaw.com

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