Page 28 - F6 Slide - VAT Part 1 - Lecture Day 5

In The Course Or Furtherance Of An Enterprise
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Definition of an enterprise Not

once-off

• any enterprise/activity

• carried on continuously or regularly (ongoing activity)

• in SA or partly in SA

• by any person In money/
otherwise
• in the course /furtherance of which

• goods or services are supplied for a consideration,

• Deposit – only consideration if applied/forfeited

• Donation to any association not for gain is specifically

excl. from the def of ‘consideration’

• whether for profit or not.