Special Investigating Units and Special Tribunals Act, 1996
R 385
Value-Added Tax Act, 1991 (Act No. 89 of 1991)RegulationsDomestic Reverse Charge Regulations7. Liability for VAT |
| (a) | Failure to apply the domestic reverse charge on supplies of valuable metal will result in the supplier and recipient, being registered vendors, being held jointly and severally liable for any VAT loss suffered by the fiscus in this regard: Provided that this provision will not be applicable to the supplier of valuable metal where the supplier, being a registered vendor satisfies the Commissioner that it has taken reasonable steps to comply with its obligation under these Regulations, including verifying the recipient vendor's VAT registration status and issuing, obtaining and maintaining the required records and statements of compliance from the recipient vendor. |
| (b) | The recipient, being a registered vendor, shall be held liable for any enforcement action by SARS in respect of any obligation to account for and pay VAT in terms of these Regulations as if that VAT were VAT on a supply of valuable metal made by that person. |
