Tag: Des Kruger
Unpacking onerous adjustments to the apportionment formula
The shortcomings of the Value Added Tax (VAT) apportionment formula set out in 2011, have been addressed in a new formula which applies with effect from all financial years commencing on or after 1 January 2024. We highlight important adjustments to the formula which is laid out new Binding General ruling, BGR 16 (Issue 3).
VAT cross-border e-commerce rules promulgated
The indirect taxation of cross-border e-commerce transactions have been high on the agenda for tax authorities worldwide. There is clearly a perception that much of these transactions are escaping indirect tax (essentially VAT) because the supplier and consumer are in different jurisdictions.
e-commerce the ‘new frontier for VAT’
It is no secret that tax systems around the world are struggling to keep pace with the digitisation of commerce and South Africa too, after an initially pro-active stance towards taxing e-commerce, was arguably starting to fall behind in this 'new frontier for VAT'.
Vital VAT rate increase considerations!
While the necessary legislative provisions to give effect to the proposed increase are still to be adopted by Parliament, one can accept that the Minister's proposal to increase VAT from 1 April 2018 will be implemented. A number of important issues need to be considered to ensure a seamless transition.
