Page 19 - ADVANCED TAXATION - Day 1 Slides

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Payment Basis

Account for VAT:

 Payment date

MUST use invoice basis for goods/services supplied

of ≥ R100 000 (incl. VAT)

N/A to fixed
property

 Study Silke 32.3.1.2 – who may account for VAT on the payments

basis
Public authorities,
municipalities etc.