Tax Professional (SA) Practice Questions - SAIT EISA Tax Professional Board Examination Exam

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Under the South African Value-Added Tax (VAT) Act Section 8(16), what is the VAT treatment when a vendor supplies a business as a going concern?

Zero-rated (0% VAT) provided both buyer and seller are registered VAT vendors, the enterprise is an income-earning activity on transfer date, and agreed in writing Standard-rated at 15% VAT Exempt from VAT without input tax recovery Subject to 20% Dividends Tax

Correct Answer:

Zero-rated (0% VAT) provided both buyer and seller are registered VAT vendors, the enterprise is an income-earning activity on transfer date, and agreed in writing

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