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Zero-Rating and Exempt Supplies - Coggle Diagram
Zero-Rating and
Exempt Supplies
Zero- Rating Supplies
Can still claim input VAT
Taxable supplies at 0% VAT
Example: Goods
Movable goods exported
Supply of enterprise as going concern
Supply of gold
Agricultural, pastoral or farming purposes
Fuel levy goods
Supplies to forreign branch
Basic food stuffs
Supplies in customs area
Compensation paid by public auth
Must register as as VAT vendor if turnover is
R1 mil in a 12 month period
No output VAT
Example: Services
Transport of passengers
Services rendered to non-resident
Exempt Supplies
No taxable supplies
No input VAT
Cannot register as a vendor if only making exempt supplies
If taxable and exempt supplies = input VAT apportioned
No output VAT
Examples
Educational services
Transport by road or rail
Residential accomodation
Trade union subscriptions
Donated goods
Financial servi