Page 31 - Chapter 32 - VAT Part 2

12.8. Deemed supplies: Other

- Credit agreement and buyer has exercised his right to rescind

the agreement within a certain period of time: not deemed

supply [s 8(3)]

- Going concern (separately operated) sold: deemed taxable

supply of goods (i.e. whole business with services) [s 8(7)]

- Casino: deemed to supply service when person bets; if prize

paid, casino may claim input tax [s 8(13)]

- Single supply with separate considerations and partly 14%

and 0%: each part deemed to be a separate supply [s 8(15)]

CSARS v British Airways (refer to the next slide!)

- Company formation transactions [IT Act s 42,44,45,47]:

vendor and recipient deemed same person if both are vendors

[s 8(25)] – Also refer Chapter 16 of Silke