SARS clarifies a vendor''s entitlement to claim input tax
The golden rule: SARS clarifies a vendors entitlement to claim input tax in respect of secondhand gold. Subjection to certain exceptions, the ValueAdded Tax Act, No 89 of 1991 (VAT Act) entitles a vendor to claim a notional input tax deduction in respect of secondhand goods acquired under a nontaxable supply, where such secondhand goods are