Chapter 17 - VAT Exempt Flashcards Preview

Paper 2: Corporate Tax & VAT > Chapter 17 - VAT Exempt > Flashcards

Flashcards in Chapter 17 - VAT Exempt Deck (4)
Loading flashcards...
1

Schedule 9 VATA 1994

List of exempt items in 16 groups

2

Groups 1 - 8

1 - Land
2 - Insurance
3 - Postal services
4 - Betting, gaming and lotteries
5 - Finance
6 - Education
7 - Health and welfare
8 - Burial and cremation

3

Groups 9 - 16

9 - Trade unions and professional bodiees
10 - Sport, competitions and physical education
11 - Works of art
12 - Fund raising events by charities
13 - Cultural services
14 - Supplies of goods where input tax isn't deductible
15 - Investment gold
16 - Supplies of services by groups involving cost sharing

4

Note

See leg for the caveats to each group