Page 159 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Adjustments: Game-viewing vehicles and hearses

Transport in a game viewing vehicle / hearse = VAT @ 15%

Acquired motor vehicle and input tax has been denied

If motor vehicle converted to game-viewing

vehicle/hearse May also claim

input on

conversion costs

Input tax = 15/115 x lesser of the cost/MV

If game-viewing vehicle / hearse subsequently applied for
other purpose = deemed supply @ standard rate On day before

conversion
Value of supply is deemed to be the MV of that vehicle