Webinar 5 will be dedicated towards the challenges facing the supplier of goods and services to the final consumer. In particular, we will draw a link between the Consumer Protection Act and the Income Tax and Value-Added Tax Acts.
We will inter alia discuss the following:
How the Consumer Protection Act affects the accrual of income by the taxpayer.
Prepayments, section 24C, cancellations and rescheduling of events.
What are the VAT and Income tax implications of various types of penalties and additional charges levied by the suppliers of goods and services where services are cancelled or postponed by consumers?
What are the VAT and income tax implications of increased levels of bad and doubtful debts?
What are the income tax and VAT implications where the taxpayer incurs penalties and interest due to e.g. late payment of rent?