Our company is registered for VAT. Some issues are very clear as to what we can claim and what we can not claim.
Some little things get to me, however. If you buy some stationery for the company at GAME stores can the company claim VAT? Strictly speaking one does not have a receipt with the company's name and vat number specified, so if one has an audit would that be an issue?
The other matter is that the boss often leaves his vehicle parked at the airport when flying out on company business. This can add up to quite a few hundred rand. Can VAT be claimed on this?
The third issue is that of promotional gifts. I read in another thread that VAT can be claimed on these, but am not quite sure - and when in doubt, I usually don't.
Can anyone give me a definitive answer on these matters?