Page 556 - SAIT Compendium 2016 Volume1

Schedule 1
VALUE-ADDED TAX ACT 89 OF 1991 Schedule 1
ITEM NO
DESCRIPTION
(c) the FIFA Flagship Store Operator may only import consumable, semi-durable or promotional Championship related goods under items 413.01, 413.02 and 413.03, excluding tobacco products and cosmetics, until one month after the date of the closing ceremony of the 2010 FIFA World Cup South Africa.
413.01/00.00/01.00
(b) The value for tax purposes in respect of goods contemplated in paragraph (a), shall be—
(i) the lower of the cost or market value on the earlier of the—
(aa) date upon which such goods are sold, donated or used contrary to the relevant
item; or
(bb) date of expiry of the applicable period for re-exportation, as if the goods were imported on that date;
(ii) if donated otherwise than contemplated in item 413.06, the lower of the cost or market value on the date of that donation as if the goods were imported by the donee (recipient) on that date;
(iii) if disposed of by a person to whom donated in terms of item 413.06 within ve years after the date of acquiring the donation, the lower of the cost or market value at the date of the donation as if the goods were imported on that date;
(c) Whenever tax is payable, the rate of tax shall be the rate applicable on the date contemplated in paragraph (b).
4. Any import under item 413.04 shall be supported by an inventory of all household goods and by the particulars of any motor vehicle imported for own use which shall include its colour, make, model, chassis number and engine number.
5. For the purposes of item 413.05 any offer to abandon or any application to destroy goods shall be made in writing by, or on behalf of, the qualifying person, employee or donee contemplated in the items concerned and shall—
(a) include the bill of entry and all applicable invoices and other documents relating to the
importation of the goods; and
(b) state the identifying particulars of the goods.
6. Notwithstanding other paragraphs or items provided for in this Schedule, goods may only be imported and entered for sale, consumption or use in the 2010 FIFA World Cup South Africa under item 413.00.
Consumable or semi-durable goods imported by qualifying persons for sale at any site during the Championship.
2. (a)
[Para. (c) substituted by s. 85 (1) of Act 8 of 2007.]
Any goods imported under—
(i) item 413.01 that have not been sold as contemplated in that item;
(ii) item 413.02 that have not been consumed, used or distributed as contemplated in that item;
(iii) item 413.03 that have not been used as contemplated in that item; or
(iv) item 413.04 that have not been consumed during the secondment, shall be—
(aa) entered for home consumption and payment of tax;
(bb) abandoned or destroyed under item 413.05;
(cc) donated under item 413.06;
(dd) exported within any period contemplated in paragraph (b); or (ee) otherwise dealt with as the Commissioner may determine.
3. (a)
Commissioner may determine.
Whenever goods are sold, distributed, donated, used contrary to the provisions of this item or not re-exported within the periods contemplated in Note 2 (b), tax shall be payable upon demand by the Commissioner.
(b) The goods contemplated in subparagraph (dd) of Note 2 (a) shall be exported in the case of—
(i) goods imported by—
(aa) FIFA and FIFA subsidiaries under item 413.01, 413.02 or 413.03 within a
period of 24 months after the date of the Championship closing ceremony; (bb) qualifying persons, other than FIFA and FIFA subsidiaries, under item 413.01, 413.02 or 413.03, within a period of 12 months after the date of the
Championship closing ceremony;
(ii) goods imported under item 413.04 within a period of 12 months after the date of
the Championship closing ceremony:
Provided that the Commissioner may, on good cause shown, and subject to such conditions as he or she may impose, extend such periods.
(c) Goods not exported must be entered for payment of tax, abandoned, donated or otherwise dealt with as contemplated in paragraph (a), within such time as the
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SAIT CompendIum oF TAx LegISLATIon VoLume 1