VAT: The Difference Between Standard-Rated, Zero-Rated, and Exempt Supplies

Value-added tax (VAT) is one of South Africa’s most significant indirect taxes, affecting businesses and consumers alike. However, while most people know that the standard VAT rate is 15%, fewer understand that not all goods and services are treated the same for VAT purposes. The Value-Added Tax Act 89 of 1991 (as amended) divides supplies […]