Page 49 - Juta's Indirect Tax

s 15 VALUE-ADDED TAX ACT 89 OF 1991 s 16
shall prepare lists of debtors and creditors in relation to the vendor’s enterprise showing the amounts owing by such debtors and the amounts owing to such creditors as at the end of the tax period immediately preceding the changeover period.
16 Calculation of tax payable
(1) The tax payable by a vendor shall be calculated by him in accordance with the provisions of this section in respect of each tax period during which he has carried on an enterprise in respect of which he is registered or is required to be registered in terms of section 23: Provided that the Commissioner may authorise a vendor to calculate the tax payable in accordance with a method which the Minister may prescribe by regulation.
[Sub-s. (1) amended by s. 91 (a) of Act 30 of 1998.]
(2) No deduction of input tax in respect of a supply of goods or services, the importation of any goods into the Republic or any other deduction shall be made in terms of
this Act, unless—
[Words in sub-s. (2) preceding para. (a) substituted by s. 137 (1) (a) of Act 24 of 2011 – date of commencement: 10 January 2012. This amendment applies in respect of supplies made on or after that date.]
[NB: The words preceding para. (a) have been substituted by s. 26 (1) (a) of Act 44 of 2014, a provision that will come into operation on the date on which the Customs Control Act 31 of 2014 takes effect. See Pendlex below.]
(a) a tax invoice or debit note or credit note in relation to that supply has been provided in accordance with section 20 or 21 and is held by the vendor making that deduction at the time that any return in respect of that supply is furnished;
[Para. (a) substituted by s. 156 (a) of Act 60 of 2001 and amended by s. 172 (a) of Act 45 of 2003.]
section 54 (2A) is held by the agent, and a statement as contemplated in section 54 (3) (b) is held by the vendor at the time that any return in respect of that importation is furnished; or
[Para. (dA) inserted by s. 25 (1) (b) of Act 44 of 2014 – date of commencement: 1 April 2015.]
[NB: Paras. (d) and (dA) have been substituted by s. 26 (1) (c) of Act 44 of 2014, a provision that will come into operation on the date on which the Customs Control Act 31 of 2014 takes effect. See Pendlex below.]
(e) a tax invoice or debit or credit note has been provided as contemplated in section 54 (2), and a statement as contemplated in section 54 (3) (a) is held by the vendor at the time a return in respect of the supply to the vendor is furnished;
[Para. (e) added by s. 156 (c) of Act 60 of 2001, amended by s. 172 (a) of Act 45 of 2003 and substituted by s. 30 (b) of Act 36 of 2007.]
Pendlex (to come into operation on the date on which the Customs Control Act 31 of 2014 takes effect)
(2) No deduction of input tax in respect of a supply of goods or services, the importation of any goods or any other deduction shall be made in terms of this Act, unless—
(b)
(c)
(i) a document as is acceptable to the Commissioner has been issued in terms of section 20 (6); or (ii) a document issued by the supplier in compliance
with section 20 (7) or 21 (5); or
[Para. (b) substituted by s. 29 of Act 8 of 2010.] records are maintained as required by section 20 (8) where the supply is a supply of second-hand goods or a supply of goods as contemplated in section 8 (10) and in either case is a supply to which that section relates; or
substituted by s. 173 (1) (a) of Act 31 of 2013 (date of commencement: 1 April 2014) and by s. 25 (1) of Tax Administration Laws Amendment Act, 2015 – date of commencement: 1 April 2016; this substitution applies iro tax periods commencing on or after that date.]
(g) in the case where the vendor, under such circumstances prescribed by the Commissioner, is unable to obtain any document required in terms of paragraph (a), (b), (c), (d), (e) or (f), the vendor is in possession of documentary proof, containing such information as is acceptable to the Commissioner, substantiating the vendor’s entitlement to the deduction at the time a return in respect of the deduction is furnished:
[Para. (g) added by s. 25 (1) of Tax Administration Laws Amendment Act, 2015 – date of commencement: 1 April 2016; this addition applies iro tax periods commencing on or after that date.]
(f)
the vendor, in the case where an amount is deducted from the sum of the amounts of output tax which are attributable to that period in terms of subsection (3) (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m) or (n), is in possession of documentary proof, as is prescribed by the Commissioner, substantiating the vendor’s entitlement to the deduction at the time a return in respect of the deduction is furnished; or [Para. (f) added by s. 30 (c) of Act 36 of 2007 and
Prelex
Wording of para. (f) in force until 1 April 2016
(f) the vendor, in any other case, except as provided
for in paragraphs (a) to (e) is in possession of documentary proof, as is acceptable to the Commissioner, substantiating the vendor’s entitlement to the deduction at the time a return in respect of the deduction is furnished:
[Para. (c) substituted by s. 26 (1) (b) of Act 44 of 2014 – date of commencement: 20 January 2015.]
(d) a bill of entry or other document prescribed in terms of the Customs and Excise Act together with the receipt for the payment of the tax in relation to the said importation have been delivered (including by means of an electronic delivery mechanism) in accordance with that Act and are held by the vendor making that deduction, at the time that any return in respect of that importation is furnished; or
[Para. (d) inserted by s. 21 (c) of Act 136 of 1992, substituted by s. 87 (a) of Act 53 of 1999, amended by s. 156 (b) of Act 60 of 2001 and substituted by s. 25 (1) (a) of Act 44 of 2014 – date of commencement: 1 April 2015.]
(dA) a bill of entry or other document prescribed in terms of the Customs and Excise Act as contemplated in
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Pendlex (to come into operation on the date on which the Customs Control Act 31 of 2014 takes effect)
(d) a release noti cation or other document prescribed
in terms of the Customs Control Act together with the receipt for the payment of the tax in relation to the said importation have been delivered (including by means of an electronic delivery mechanism) in accordance with that Act and are held by the vendor making that deduction, at the time that any return in respect of that importation is furnished; or
(dA) a release noti cation or other document prescribed in terms of the Customs Control Act as contemplated in section 54 (2A) is held by the agent, and a statement as contemplated in section 54 (3) (b) is held by the vendor at the time that any return in respect of that importation is furnished; or
VALUE-ADDED TAX ACT