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VAT and Government Departments (Paperback, 1)
Loot Price: R2,028
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VAT and Government Departments (Paperback, 1)
Series: VAT Guides
Expected to ship within 12 - 17 working days
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VAT and Government Departments is a reference manual and a
practical guide for those managing VAT in Government Departments,
their advisers and key suppliers. Government Department VAT has
recently been the subject of an HMRC consultation and review with
new guidance published in 2015 (consolidated with revised NHS
guidance). Public sector organisations must be registered for VAT
where they engage in ""economic activities"", especially where
there is any competition with the private sector. There are special
rules for Government Departments (and the NHS) under section 41 VAT
Act 1994 known as the contracted-out services or COS rules (in
relation to non-business activities) and Value Added Tax itself,
governed by the VAT legislation (in relation to business
activities). To understand VAT in a Government Department context
it is essential to understand the fundamental duality in the tax in
relation to the public sector. This is often overlooked and because
in certain situations VAT can apparently be recovered in both
contexts COS eligibility to recover and input tax entitlement on
VAT incurred can be confused. Many of the areas covered in the text
are complex in themselves and VAT and Government Departments does
not attempt to examine all possibilities in all circumstances or to
reproduce the full technical guidance or statute. The objective is
to identify all of the issues in the tax relevant to Government
Departments and in a logical analysis, explain these from a
compliance perspective and in relation to the organisational
activities of Government Departments (providing further references
where appropriate if more detailed information is required). VAT
& Government Departments is based on published HMRC and
Treasury guidance and policy and on current case law and
legislation in force as at 30th April 2015.
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