Transcription of INTERPRETATION NOTE: NO. 31 (Issue 4) ACT : VALUE …
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INTERPRETATION NOTE: NO. 31 (Issue 4) ACT : VALUE …
INTERPRETATION NOTE: NO. 31 (Issue 4) DATE: 9 March 2016 ACT : VALUE - added TAX ACT NO. 89 of 1991 SECTION : SECTION 11(3) READ WITH SECTION 11(1) AND (2) SUBJECT : DOCUMENTARY PROOF REQUIRED FOR THE ZERO-RATING OF GOODS OR SERVICES Preamble In this Note unless the context indicates otherwise section means a section of the VAT Act; Schedule means a Schedule to the VAT Act; VAT means VALUE - added tax; VAT Act means the VALUE - added Tax Act No. 89 of 1991 ; and any other word or expression bears the meaning ascribed to it in the VAT Act. 1. Purpose This Note sets out the documentary proof that is acceptable to the Commissioner as contemplated in section 11(3), in instances where goods or services are supplied at the zero rate. 2. Background A fundamental principle of VAT is that goods or services supplied by a vendor in the course or furtherance of the vendor s enterprise should generally be subject to VAT at the standard rate (that is, 14%).
interpretation note: no. 31 (issue 4) date: 9 march 2016 . act : value-added tax act no. 89 of 1991 . section : section 11(3) read with section11(1) and (2)
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