Page 546 - SAIT Compendium 2016 Volume1

s 78 VALUE-ADDED TAX ACT 89 OF 1991 s 87
(iii) on the commencement date is not a vendor for the purposes of this Act,
he shall for the purposes of the Sales Tax Act be deemed to have applied such goods on the day referred to in subparagraph (i) to a use or consumption contemplated in section 5 (1) (h) of that Act.
[Para. (a) amended by s. 47 (l) of Act 136 of 1991.]
(b) Any sales tax payable under the Sales Tax Act in respect of the taxable value of such goods shall be payable at the rate of 10 per cent applicable under this Act and may be paid to the Commissioner within the period of three months reckoned from the day after the commencement
date, without penalty.
[Para. (b) amended by s. 47 (m) of Act 136 of 1991, by GN 2695 of 8 November 1991 and by s. 42 (e) of Act 136 of 1992.]
78A Transitional matters: Turnover Tax
(1) For the purposes of this section—
‘taxable turnover’ has the meaning assigned thereto in the Sixth Schedule to the Income Tax Act;
‘turnover tax’ means the turnover tax payable by a registered micro business in terms of section 48A of the Income Tax Act; and
‘registered micro business’ has the meaning assigned thereto in the Sixth Schedule to the Income Tax Act.
(2) Where a person is deregistered in terms of the Sixth Schedule to the Income Tax Act and registers as a vendor, any supplies of goods or services—
(a) made by that person before it became a vendor;
(b) in respect of which the time of supply would have been deemed to have taken place while that person was a registered micro business had it been registered as a vendor during that time;
(c) which were not included in the taxable turnover of that person while it was a registered micro business; and
(d) the receipts for which are received after it became a vendor,
must be deemed to be made in the course or furtherance of that vendor’s enterprise in the tax period in which those receipts are received.
(3) Subject to section 18 (4) (b), where a person is deregistered in terms of the Sixth Schedule to the Income Tax Act and registers as a vendor, any value-added tax paid on expenditure it incurred while it was a registered micro business may not be deducted by that vendor as input tax.
[S. 78A inserted by s. 115 (1) of Act 60 of 2008.]
79 Amends section 9 of the Transfer Duty Act 40 of 1949 by adding subsection (15).
80 Amends section 12 of the Transfer Duty Act 40 of 1949 by substituting subsection (2).
81 Amends section 23 of the Stamp Duties Act 77 of 1968 by adding subsection (4) (b) (viii).
82 (1) Amends section 24 of the Stamp Duties Act 77 of 1968, as follows: paragraph (a) deletes subsection (1); paragraph (b) substitutes subsection (2) (a); and paragraph (c) deletes subsections (2A), (3), (4), (5), (6), (7), (8) and (8A).
(2) Subsection (1) shall come into operation on the commencement date: Provided that any stamp duty or other amount which but for such amendments would have been capable of being levied or recovered under subsection (4) of the said section 24 in respect of policies, certi cates of insurance and endorsements thereon executed before that date and renewals thereof falling due before that date shall
be levied, paid and recovered as if the said amendments had not been effected.
83 Amends item 15 of Schedule 1 to the Stamp Duties Act 77 of 1968 by adding subparagraph (v) under the heading ‘Exemptions from the duty under paragraph (3)’.
84 (1) Amends item 18 of Schedule 1 to the Stamp Duties Act 77 of 1968, as follows: paragraph (a) deletes paragraphs (4) and (6); and paragraph (b) substitutes in paragraph (7) the words ‘any above-mentioned policy’ for the words ‘any policy’.
(2) Subsection (1) shall come into operation on the commencement date in respect of insurance policies, certi cates of insurance and endorsements thereon executed on or after that date and renewals thereof falling due on or after that date.
85 Repeal of laws
(1) Subject to the provisions of subsection (2), the laws speci ed in Schedule 3 are with effect from the commencement date hereby repealed to the extent set out in the third column of that Schedule.
(2) . . .
[Sub-s. (2) deleted by s. 116 of Act 60 of 2008.]
86 Act binding on State, and effect of certain exemptions from taxes
This Act shall bind the State, and no provision contained in any other law providing for an exemption from any tax or duty shall be construed as applying or referring, as the case may be, to the tax leviable under this Act unless such tax is speci cally mentioned in such provision.
86A Provisions relating to industrial development zones
Where a provision of the Customs and Excise Act, or the Manufacturing Development Act, 1993 (Act 187 of 1993), or a regulation made thereunder governing the administration of industrial development zones including a matter relating to the liability for or levying of value- added tax or a refund thereof or a supply of goods or services subject to tax at the zero-rate is inconsistent or in con ict with a provision of this Act, the provision of this Act will prevail.
[S. 86A inserted by s. 176 of Act 60 of 2001.]
[NB: S. 86A has been substituted by s. 106 (1) of Act 43 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.]
Pendlex (to come into operation on the date on which the Customs Control Act 31 of 2014 takes effect)
86A Provisions relating to IDZs
Where a provision of the Customs Control Act, the Manufacturing Development Act, 1993 (Act 187 of 1993), or the Special Economic Zones Act, or a regulation made thereunder governing the administration of IDZs or SEZs including a matter relating to the liability for or levying of value-added tax or a refund thereof or a supply of goods or services subject to tax at the zero-rate is inconsistent or in con ict with a provision of this Act, the provision of this Act will prevail.
This Act shall be called the Value-Added Tax Act, 1991. 538 SAIT CompendIum oF TAx LegISLATIon VoLume 1
87 Short title