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Value-Added Tax
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| When is VAT not deductible ? |
No deduction is allowed in respect of tax paid
on expenditure on the following:
(a) The provision of food, drink, accommodation
or other personal services supplied to the taxable
person, his agent, or his employees.
(b) Entertainment expenses incurred by the taxable
person, his agent or his employees.
(c) The acquisitions, hiring or leasing of motor
vehicles other than as stock in trade or for the
purposes of a business which consists in whole or
part of the hiring of motor vehicles or for use
in a driving school business for giving instruction.
(d) The purchase of petrol otherwise than as stock
in trade.
(e) Expenditure incurred on food, drink, accommodation
or other entertainment services as part of an advertising
service is not deductible in the hands of the person
providing that advertising service.
(f) Any VAT incurred by a taxable person in a transaction
where the margin or auction schemes apply. |
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