Page 17 - ADVANCED TAXATION - Day 1 Slides

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Example

A vendor registered on the invoice basis supplied the

following goods:

(a) On 2 February goods are delivered at one of the
clients’ premises and the invoice for the goods was

issued on the same date. The payment for the goods

was received on 31 March.

(b) On 29 April a client paid R100 000 for goods

delivered on the same date. The invoice was issued on

14 May.

You are required to determine the time of the

above supplies for VAT purposes.