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On the 20th of October 2021, the South African Revenue Service (SARS) issued BGR 57 to clarify the position on whether, for tax purposes and the calculation of notional input tax deduction, the term ‘consideration’ includes an amount paid or payable as transfer duty when a second-hand fixed property is purchased by a VAT vendor from a non-vendor.
Before we delve much into Binding General Rule (VAT) 57 and its effect, let us give this scenario a bit of context.
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