Hi everyone.
If an sales agreement states that the fixed property will be transferred at the end of a 5 year period with equal annual installments, does the company qualify for the deemed input (seller is non-vendor) on the annual payments or should he wait until the property is transferred and the transferred duty is paid?
In normal circumstances VAT would be claimed on the annual payments. I am unsure how to handle this, as the transfer duty will only be paid after the 5 year period.
If further information is required please let me know.
Thank you
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