Page 18 - F6 Slide - VAT Part 5 - Lecture Day 5

Adjustments: Game-viewing Vehicles And Hearses

Transport in a game viewing vehicle / hearse = VAT @ 14%

Acquired motor vehicle and input tax has been denied

If motor vehicle converted to game-viewing

vehicle/hearse May also claim

input on

conversion costs

Input tax = 14/114 x lesser of the cost/MV

If game-viewing vehicle / hearse subsequently applied for On day before
other purpose = deemed supply @ standard rate conversion

Value of supply is deemed to be the MV of that vehicle