Vat Question

[KimH]

For the Vat fundi's out there:

Scenario ~ My client is a registered Vat vendor who in addition to her import business also buys/sells/races horses.
Another dealer purchased a horse directly from a Vat vendor and my client decided to purchase a share in this horse.
The supplier invoiced the dealer (supplier is a VV / the dealer is not). The dealer then invoiced my client for her share of the horse, sans Vat of course. My client realising that she could not claim the Vat contacted the original supplier and dealer and requested that they invoice her directly for her share so that she could claim back the Vat. Supplier not interested.

My client now wants to know if there is anyway she can claim the Vat - as far as I know she cannot as her purchase was from a Non Vendor.

Is there by some miracle a portion of the Act that provides for this?

I doubt it, but would rather follow all avenues before shredding my clients already frayed nerves concerning this

Thanks.
K

[Mike Simmonds]

I unfortunately do not have any experience with Race Horses. However the Thoroughbred Breeders Association has published a guide http://www.tba.co.za/pdf/taxation_guide.pdf which may be of some assistance in this regard.