Thank you for signing upDear Reader, A Note Concerning Privacy, Spam, Filters, BlackLists, and Whitelists… You also might be wondering how we’re going to use your e-mail address. Please note that the security and privacy of your e-mail address is assured. We will NEVER sell or rent your e-mail address under any circumstance. Additional information can be found on our Privacy Policy. Additionally, in light of today’s use of spam filters and blacklists, we strongly encourage you to “whitelist” us to ensure that your E-Letter is delivered without fail.. Thanks for joining us. It’s an exciting time here at Fleet Street Publications and you couldn’t have joined at a better point. To ensure that you receive all our tips, tools and advice we will be sending you an email to confirm your email address. It should be arriving in your inbox shortly and all you need to do is click on the confirmation link. You’ll also hear from me from time to time. I’ll keep you updated on the latest opportunities and promotions, their support helps keep our e-letter free. And when our newest research and content is available online, I’ll be the first to let you know. Best regards,
Annabel Koffman |
New Vat guide released
Tax Bulletin | 15 January, 2009 | Hot Topics:
Dear Reader
Welcome to the first Vat Bulletin of 2009.
In a good start to the New Year, SARS has just issued another useful Vat guide (Vat 409) and this one covers the Vat treatment of transactions in connection with fixed property and construction in South Africa. Visit its website (www.sars.co.za) and find it under the “What’s New” tab. It's fairly comprehensive and is important reading for anyone involved with the financial aspects of fixed property and construction. These guides are extremely useful to clarify often complex laws and provide a firm interpretation with examples on what SARS accepts.
I'll make sure I keep you up to date with any new developments on the SARS guide front!
Mailbox
Answered by Christo Augustyn of KPMG Services Pty Ltd
Are interest accounts subject to Vat?
Dear Christo,
Should we be charging Vat on an interest account?
Answer:
This is an easy one: the provision of credit and interest is not subject to Vat.
Please take note: The answers provided in response to the questions and/or the information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will be accurate in the future. No one should act upon the answers provided and/or such information without appropriate professional advice after a thorough examination of the particular situation.
Nothando Hlatshwayo
Managing Editor
The Practical Vat Handbook
Editors note
Fulvia Becatti
Tax Bulletin Editor
The Tax Bulletin is packed full of tax tips, commentary on changes to the tax landscape and is also an interactive tax forum which aims to help you efficiently manage your taxes and avoid all the traps. It is also a handy reminder of the deadlines which taxpayers have to meet.
