Results 1 to 3 of 3

Thread: VAT on a second hand light commercial vehicle

  1. #1
    New Member
    Join Date
    Feb 2019
    Location
    Lonehill
    Posts
    4
    Thanks
    2
    Thanked 0 Times in 0 Posts

    VAT on a second hand light commercial vehicle

    Please advise?

    A manufacturing company is selling a single cab light commercial bakkie. They bought the bakkie new, paid VAT and I would presume claimed back the VAT.

    I would like to buy the bakkie from them in the name of my company. Does the transaction between us attract VAT if the value now is less than the original purchase price. Both entities are VAT registered.

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,022
    Thanks
    3,178
    Thanked 2,581 Times in 2,177 Posts
    Blog Entries
    12
    Being VAT registered and having claimed the input VAT on purchase, the seller must raise output VAT on the invoice.

    The purchaser may claim the input VAT as long as the vehicle qualifies for the claim.

  3. Thanks given for this post:

    Jan Blom (25-Feb-19)

  4. #3
    New Member
    Join Date
    Feb 2019
    Location
    Lonehill
    Posts
    4
    Thanks
    2
    Thanked 0 Times in 0 Posts
    Thank you Dave

Similar Threads

  1. Buying second hand Vehicle from Director - Journals
    By mango in forum Accounting Forum
    Replies: 4
    Last Post: 19-Nov-17, 12:09 AM
  2. Second Hand Vehicle
    By JJB in forum Consumer Protection Act Forum
    Replies: 0
    Last Post: 10-Sep-12, 09:13 AM
  3. Second hand vehicle, warranty and service history
    By Booster in forum Consumer Protection Act Forum
    Replies: 1
    Last Post: 08-Mar-12, 11:27 AM
  4. [Question] What does the CPA says about second hand vehicle...?
    By Christel in forum Consumer Protection Act Forum
    Replies: 4
    Last Post: 26-Feb-12, 05:24 AM
  5. Clear strategy, bold leadership must go hand in hand for bosses
    By Dave A in forum Entrepreneurship and Business Management Forum
    Replies: 0
    Last Post: 08-Jan-07, 07:04 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •