Crowdly

VAT is refunded

No VAT applies

Zero-rating applies fully

If VAT is charged on property:

Neither applies

Transfer duty applies

Both apply

Transfer duty does not apply

Time of supply for fixed property is:

Delivery date

Invoice date

Contract date

Earlier of registration or payment

The general time of supply rule is the earlier of:

Invoice date or payment date

Contract date or payment date

Delivery date or payment date

Invoice date or delivery date

No VAT on fringe benefits if related to:

Entertainment

Taxable supplies

Motor vehicles

Imports

Which of the following is zero-rated?

Bank charges

Restaurant meals

Electricity

Brown bread

Fringe benefits aim to:

Increase profit

Reverse input tax claimed

Avoid VAT

Reduce tax liability

For connected persons, if consideration is below market value, the value of supply is:

Cost price

Zero

Invoice price

Open market value

The deemed input tax is based on:

Replacement cost

Invoice value

Lower of cost or Market Value

Higher of cost or Market Value

If goods are applied 100% to non-taxable use:

No VAT applies

Exempt supply arises

Output tax adjustment required

Input tax claimed