Page 19 - F6 Slide - VAT Part 3 - Lecture Day 5

Deemed Input Tax On Second-hand Goods

(Ss 1, 18(8) And 20(8))

Goods previously

owned and used

Excl. animals and goods

containing gold

 Second-hand goods

 Acquired from a non-vendor in SA

 May claim deemed input VAT Incl.
VAT

 14/114 x lessor of purchase price/open-MV

(even though no VAT has been paid)

 Claimed to the extent payment has been made