Current VAT Issues in Tax Practice: Navigating the Battlefield
Duration: 2 hours
Price: R195.00
Current VAT Issues in Tax Practice: Navigating the Battlefield
Presenters : Christo Theron
Overview
This video will highlight the impact that the five new judgments from the Supreme Court of Appeal have on taxpayers and tax practices. It will also unpack the various practical challenges tax professionals will be faced with when interpreting specific transactions and the correct VAT treatment.
We will also unpack the imposition of penalties and interest and the recourse available to taxpayers. This area is a minefield and taxpayers often find themselves hapless when requesting the waiver of penalties and interest.
Video content
Session Topics:
1. Case law
- The Diago South Africa case.
- The Consol case.
- The Capitec bank case.
- The Rennies travel case.
- The Tourvest financial services case.
2. Registration
- Compulsory registration.
- Once-off transactions.
- Foreign group of companies.
3. Categories of supplies
- Sale of interest in a partnership.
- Farming operations.
- Zero-rated services.
- Tax compromise benefits.
- Commercial accommodation.
4. Input tax
- Input tax on solar panels.
- Asset for share transactions.
- Input tax on double-cab light delivery vehicles.
- Input tax on due diligence expenses.
5. Tax invoices and credit notes
- When and how may incorrect tax invoices be corrected without issuing credit notes.
- Penalties and interest – understand the regime.
Competencies developed in this video
- Updated about the new SCA judgments and assess the impact for your clients and your practice.
- Competent to advise clients about the categories of supplies.
- Train your staff on input tax claims on solar panels, input tax on double cab light delivery vehicles, etc.
- Empowered to manage the penalties and interest regime applicable to VAT.