Page 3 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1

Introduction

 Levied ito Value-Added Tax Act 89 of 1991

 At what rate is VAT levied?

 VAT is an Indirect tax

What does

this mean?

User acquiring

goods/services Supplier/Vendor SARS

 Prices must include VAT, unless specifically broken

down into value and VAT