South Africa Tax Agency Issues Updated VAT Guide for Vendors

The South African Revenue Service Dec. 17 issued an updated VAT guide for vendors. Topics covered include: 1) amended definitions for various relevant terms; 2) the registration of foreign entities and a discussion of a new provision aimed at alleviating administrative difficulties for foreign entities required to register for VAT; 3) that a VAT-registered telecommunications provider can issue a credit note if the nature of the supply changes after issuing a prepaid voucher; 4) that supplies of goods and services not specifically exempted by law are considered “out of scope supplies” and input tax may not be deducted on the ...