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Value-Added Tax Act 89 of 1991
30 September 1991
VAT charged when selling goods or providing services
South African Revenue Service (SARS)
VAT paid when purchasing goods or services from suppliers
Must have a proper tax invoice from supplier
Output tax−Input tax\text{Output tax} - \text{Input tax}Output tax−Input tax
Owe money to SARS (amount payable)
Owes you money (amount refundable)
The final consumer
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