Page 91 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1
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Example: Second hand goods
Simuyne (Pty) Ltd, a vendor for VAT purposes,
acquired a second-hand delivery bicycle from a non-
vendor for use in its business. The purchase price of
the delivery bicycle was R630 and the market value
was R780. The purchase price was paid in full.
Determine whether any input tax may be
claimed in respect of the purchase.
