VAT problems

[Kalle]

Hi all,

I need some help with 0 rated VAT items.

At SARS there is a PPS that you can download http://www.treasury.gov.za/comm_media/presentations/Zero-rated and exempt supplies.pps

However that is quite unusable, because it says that vegetable oil is zero rated but it doesn't say that this is not applicable to olive oil which is 14% VAT.

Where can I find a comprehensive list or guide?

 

[biometrics]

Olives are fruit.

 

[Fulcrum29]

Zero-rated is a tricky application in the industry, once you attach a service to zero-rated goods then VAT is applicable.

Olives are fruit.

 

[Johnatan56]

"The following are technically fruits: avocado, beans, peapods, corn kernels, cucumbers, grains, nuts, olives peppers, pumpkin, squash, sunflower seeds and tomatoes. Vegetables include celery (stem), lettuce (leaves), cauliflower and broccoli (buds), and beets, carrots and potatoes (roots)."
http://www.mayoclinic.org/healthy-l...-blog/fruit-vegetable-difference/bgp-20056141

 

[Stefanmuller]

Zero-rated is a tricky application in the industry, once you attach a service to zero-rated goods then VAT is applicable.

This. Just like grapes are zero rated, once you process it to become wine the wine sales are Vattable, same applies to the oil from olives.

 

[KalMaverick]

Go to the source.

Vegetable oil, marketed and supplied for use in the process of cooking food, but excluding olive oil.

Schedule 2 - Part B of the VAT Act.

You can also read s11 and s12 of the VAT Act.

 

[Arthur]

Basic rule: Wet van Transvaal