- South African Revenue Service released an updated VAT guide for vendors on December 17
- The new guide replaces all previous editions
- It includes updated definitions relevant to VAT compliance and operations
- Introduces a provision for easier registration of foreign entities for VAT in South Africa
- Allows VAT-registered telecommunications providers to issue credit notes for changes in supply after issuing a prepaid voucher
- Defines out-of-scope supplies as goods and services not exempted by law, barring vendors from claiming input tax deductions for these
- Includes provisions for developers temporarily letting dwelling units while intending to sell them as taxable supplies
- The updated guide is now the sole reference for VAT-related matters for vendors
Source: globalvatcompliance.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
