Page 125 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Deemed supply: Fringe benefits

Intended to reverse portion of the input tax previously

claimed by the vendor.
Not salaries

th
ONLY applicable to fringe benefits per 7 Schedule to

the Income Tax Act.

No deemed supply if the fringe benefit relates to:

 an exempt supply

 a zero-rated supply, or

 the supply of entertainment (e.g. meals)