Page 34 - F6 Slide - VAT Part 2 - Lecture Day 5
P. 34

Output Tax: Exempt Supplies (S 12)









         l                           Financial services (ss 2 and 12(a))



                                                                                                                          SILKE

            Examples:                                                                                                     32.11.1

                                       • issue of a loan,


                                        • sale of shares

                                         • interest paid





                   NOT financial services:






                        • Fee based financial services


                                        e.g. Bank charges

                            • Supply of a cheque book
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