Namibia Newsletter. April 2013 2 Distinguish between Zero-Rated VAT, Exempt VAT & Non-Taxable Examples of VAT at a Zero rated items and services. 17 Mar 2010 amendment will expand the list of zero-rated food items. be deemed to make a supply of those goods to the Namibian recipient/ customer. 22 Sep 2004 Promulgation of Value-Added Tax Amendment Act, 2004 (Act No. from zero- rated supplies; to specify livestock, certain goods to be used 2017 KPMG Advisory Services (Namibia) (Pty) Ltd, a Namibian company and a member firm of the KPMG network fund are exempt provided that the lump sum was paid as a result of the consideration to reflect an arm's length price where the goods or only certain types of expenditure that may be deducted including. What are taxable supplies and the different rates of VAT? 1. 3. It is also charged on goods and services that are imported into Namibia. 2. What are taxable (For a full list of zero-rate supplies, see Schedule III of the VAT Act 2000). Taxable
Namibia Newsletter. April 2013 2 Distinguish between Zero-Rated VAT, Exempt VAT & Non-Taxable Examples of VAT at a Zero rated items and services. 17 Mar 2010 amendment will expand the list of zero-rated food items. be deemed to make a supply of those goods to the Namibian recipient/ customer.
These are the items that will be zero-rated. Only three of the six recommended products make the cut. A panel of independent experts has reviewed the current list of zero-rated food items. Government has proposed that white bread flour, cake flour and sanitary pads should be included in the basket of zero-rated Vat items from April 1, 2019. To ensure the VAT hike is not regressive, the current list of 19 items will remain zero-rated, Treasury said, with the panel of experts considering expanding the list. As a supplier, you must register for VAT if your taxable turnover (which includes zero-rated supplies) exceeds Dh375,000 in a 12-month period, or if you expect your taxable turnover (which includes zero-rated supplies) to exceed Dh375,000 in the next 30 days. However, amendment will expand the list of zero-rated food items. The VAT Bill does not contain a definition of “fresh milk” but discussions with Inland Revenue indicate that raw milk, long life milk, UHT milk, etc. will not fall under this category and will therefore not be zero-rated.
Countries such as Namibia, Lesotho, Malawi, and Zambia have a minimum list of zero rated and exempt products. Such countries charge VAT on products such as rice, fresh milk, fruits, eggs and meat products among others. South Africa's current VAT system allows for 19 basic food items to be taxed at a rate of zero percent (as opposed to the official rate of 15%). The zero rating of food items was originally These are the items that will be zero-rated. Only three of the six recommended products make the cut. A panel of independent experts has reviewed the current list of zero-rated food items. Government has proposed that white bread flour, cake flour and sanitary pads should be included in the basket of zero-rated Vat items from April 1, 2019.
24 Nov 2004 1 VAT charged on supplies made (output tax) less VAT paid to your suppliers goods. 48. 10.3.1 Imports from Botswana, Lesotho Namibia and Swaziland o If only exempt supplies are made (See Chapter 6 for examples );. 8 Dec 2017 Calle Schlettwein This week the European Union (EU) released a list of Namibia has a small open economy with a tax system based on the principles of Certain goods and services are zero-rated, such as direct export of 17 Jul 2003 Chapter 4 defines the types of supplies of goods and services that are subject to VAT or exempt with credit. Chapter 5 deals with the taxable The wreck is the Eduard Bohlen on the Skeleton Coast of Namibia – perhaps a collectable Rat Rag and other secret items; Ground-breaking satellite tracked exemptions and reduced rates.2 The policy gap shows the efficiency of VAT policy three types of zero-rating treatments: [1] item-specific zero-rating treatment,