Page 24 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

In the course or furtherance of an enterprise

4

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.