Application VAT Gambling Industry - Sars
Application VAT Gambling Industry - Sars Application VAT Gambling Industry - Sars
- 6 -• the racing administrator shall retain all records (including tax invoices)relevant to such individual, partnership or syndicates, and undertakes tocomply with section 55 of the VAT Act;• the racing administrator shall be personally liable for any tax, additional tax,penalty and interest chargeable under the VAT Act on the individual,partnership or syndicate that racing administrator represents;• on termination of the agreement between the racing administrator and theindividual/partnerships/syndicates, the racing operator will be deemed tomake a supply as contemplated in section 8(2) of the VAT Act to theindividual/partnerships/syndicates;Failure on the part of the racing administrator to comply with these provisions,and the provisions of the VAT Act, will result in the racing administrator beingexcluded from this dispensation. Furthermore, SARS reserves the right towithdraw this dispensation, should it be found that such dispensation is beingmisused or causing verification problems for SARS.
- Page 10 and 11: - 10 -2 nd BookmakerDescription of
- Page 12 and 13: - 12 -4.2.2 Input taxApart from the
- Page 14 and 15: - 14 -Example: Joe Soap’s Casino
- Page 16: - 16 -Example: Lady Luck Casino mak
- Page 19 and 20: - 19 -4.2.5 Motor Cars4.2.5.1 Prior
- Page 21 and 22: - 21 -4.2.6 Wide Area Progressive J
- Page 23 and 24: - 23 -ANNEXURE ATHE VAT ACTSection
- Page 25 and 26: - 25 -Section 16(3) of the VAT Act
- Page 27: - 27 -Section 17(2) - Permissible d
- 6 -• the racing administrator shall retain all records (including tax invoices)relevant to such individual, partnership or syndicates, and undertakes tocomply with section 55 of the <strong>VAT</strong> Act;• the racing administrator shall be personally liable for any tax, additional tax,penalty and interest chargeable under the <strong>VAT</strong> Act on the individual,partnership or syndicate that racing administrator represents;• on termination of the agreement between the racing administrator and theindividual/partnerships/syndicates, the racing operator will be deemed tomake a supply as contemplated in section 8(2) of the <strong>VAT</strong> Act to theindividual/partnerships/syndicates;Failure on the part of the racing administrator to comply with these provisions,and the provisions of the <strong>VAT</strong> Act, will result in the racing administrator beingexcluded from this dispensation. Furthermore, SARS reserves the right towithdraw this dispensation, should it be found that such dispensation is beingmisused or causing verification problems for SARS.
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