Page 43 - ADVANCED TAXATION - Day 1 Slides
P. 43

VAT : Imported Goods


        9
                         Importation of goods                                    Importation of goods

                         from BLNS countries                                     from other countries




                               Botswana, Lesotho,
                           Namibia and Swaziland                                     Time of supply

                                                                                   Date cleared for home

                                                                                          consumption
                        Time of supply


                            Time when goods enter SA
                                                                               Calculation of VAT


                                                                        14% x (customs duty value
                        Calculation of VAT                              plus 10% of customs duty value,



                           14% x customs duty value                     plus non-rebated customs duty
                                                                        payable and any import surcharges)
   38   39   40   41   42   43   44   45   46   47   48