EXSA PAGE NEWS STRAP
EXSA VAT ruling — a huge benefit to members EXSA’s SARS VAT ruling is an irreplaceable benefit exclusive to EXSA members only. If used properly it will ensure that you are able to give your organisation a big competitive advantage when dealing with clients’ budgets. It will greatly benefit your clients, saving them from the rigmarole of having to navigate a non-familiar tax system to claim the VAT back via a tedious process from wherever they may be in the world.
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n 4 February 2022, EXSA hosted a webinar highlighting the main factors of the VAT ruling. Justin Hawes, managing director of Scan Display and EXSA member, presented these points. Here is a summary of his presentation Every 12 months EXSA supplies SARS with a list of members that qualify for the VAT ruling in accordance with their membership status. This will allow those members to zero-rate goods and services supplies to non-South African residents. Mr Hawes’ presentation explained the act as follows: Section 11 – Zero-Rating (splitting into goods and services): Goods (what does the act say?) (1) Where, but for this section, a supply of goods would be charged with tax at the rate referred to in section 7 (1), such supply of goods shall, subject to compliance with subsection (3) of this section, be charged with tax at the rate of zero
68 Business Events Africa March 2022
percent where… (d) the goods (being movable goods) are supplied to a lessee or other person under a rental agreement, charter party or agreement for chartering, if those goods are used by that lessee or other person exclusively in any commercial, financial, industrial, mining, farming, fishing or professional concern conducted in an export country and payment of rent or other consideration under the agreement is effected from such export country; or - Movable goods. - Rental agreement. - Goods used by that lessee. - Concern conducted in an export country (enterprise). - Payment of rent or other consideration under the agreement is effected from such export company — it may be Rands. Services 1.5.1 The following services supplied by EXSA members to a non-resident
By Liam Beattie, board member of EXSA and Justin Hawes, managing director of Scan Display and EXSA member. exhibitor may be zero-rated insofar as the requirements of section 11 (2) (l) are met: - Arranging for the rental of the exhibition space. - Arranging for the rental of goods, décor, fixtures and fittings. - Designing the layout of the exhibition site. - Erecting the stalls. - Dressing and setting up the stall. The supply of movable goods directly from the act: 4.8 Although movable goods supplied under a rental agreement qualify for www.businesseventsafrica.com
