Page 170 - ADVANCED TAXATION - Day 1 Slides
P. 170
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
On day
If game-viewing vehicle / hearse subsequently applied for before
other purpose = deemed supply @ standard rate conversion
Value of supply is deemed to be the MV of that vehicle
