Page 13 - P6 Slide Taxation - Lecture Day 3 - VAT Part 2
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12. OUTPUT VAT: DEEMED SUPPLIES [s 8 and s 18(3)]
“Deemed supplies”
s 8
Deemed supply Section(s) Time of Value of
supply supply
Ceasing to be a vendor ss 8(2) & 22(3) s 9(5) s 10(5)
Indemnity payment s 8(8) s 8(8) s 8(8)
Supplies to independent s 8(9) and ss s 9(2)(c) s 10(5)
branches 11(1)(i) +11(2)(o)
Fringe Benefits s 18(3) s 9(7) s 10(3)
Payments exceeding s 8(27) s 8(27) s 10(26)
consideration
