“open market value” in relation to the supply of goods or services, means the open market value thereof determined in accordance with the provisions of section 3;
Category: Value-Added Tax Act No. 89 of 1991
“Municipal rate” definition of section 1 of VAT Act
“municipal rate” means a rate levied by a municipality in terms of section 2 of the Local Government: Municipal Property Rates Act, 2004 (Act No. 6 of 2004), on ‘rateable property’ of an ‘owner’ as defined in section 1 of that Act respectively: Provided that a municipal rate does not include-
(a) a single charge levied by that municipality for rates and other supplies of goods or services such as-
(i) electricity, gas, water; or
(ii) drainage, removal or disposal of sewage or garbage; or
(iii) goods or services that are incidental to, or necessary for the supply of those goods or services, to that owner; or
(b) a rate levied in respect of supplies of goods or services contemplated in paragraph (a);
[Definition of “municipal rate” inserted by section 40 of Act 9 of 2006]
“Municipality” definition of section 1 of VAT Act
“municipality” means a municipality as defined in section 1 of the Income Tax Act;
[Definition of “municipality” inserted by section 40 of Act 9 of 2006 and substituted by section 77 of Act 20 of 2006 and section 81 of Act 8 of 2007]
“Motor car” definition of section 1 of VAT Act
“motor car” includes a motor car, station wagon, minibus, double cab light delivery vehicle and any other motor vehicle of a kind normally used on public roads, which has three or more wheels and is constructed or converted wholly or mainly for the carriage of passengers, but does not include-
(a) vehicles capable of accommodating only one person or suitable for carrying more than 16 persons, or
(b) vehicles of an unladen mass of 3 500 kilograms or more; or
(c) caravans and ambulances;
(d) vehicles constructed for a special purpose other than the carriage of persons and having no accommodation for carrying persons other than such as is incidental to that purpose;
(e) game viewing vehicles (other than sedans, station wagons, mini-buses or double cab light delivery vehicles) constructed or permanently converted for the carriage of seven or more passengers for game viewing in national parks, game reserves, sanctuaries or safari areas and used exclusively for that purpose, other than use which is merely incidental and subordinate to that use; or
(f) vehicles, constructed as or permanently converted into hearses for the transport of deceased persons and used exclusively for that purpose;
[Definition of “motor car” amended by section 76 of Act 30 of 2000 and section 92 of Act 32 of 2004]
“Month” definition of section 1 of VAT Act
“month” means any of the twelve portions into which any calendar year is divided;
[Definition of “month” inserted by section 164 of Act 45 of 2003]
“Money” definition of section 1 of VAT Act
“money” means-
(a) coins (other than coins made wholly or mainly from a precious metal other than silver) which the South African Reserve Bank has issued in the Republic in accordance with the provisions of section 14 of the South African Reserve Bank Act, 1989 (Act No. 90 of 1989), or which remain in circulation as contemplated in the proviso to subsection (1) of that section, and any paper currency which under the said Act is a legal tender;
(b)
(i) any coin (other than a coin made wholly or mainly from a precious metal) or paper currency of any country other than the Republic which is used or circulated or is intended for use or circulation as currency;
(ii) any bill of exchange, promissory note, bank draft, postal order or money order,
except when disposed of or imported as a collector’s piece, investment article or item of numismatic interest;
“Minister” definition of section 1 of VAT Act
“Minister” means the Minister of Finance;
“Licensed customs and excise storage warehouse” definition of section 1 of VAT Act
“licensed customs and excise storage warehouse” means a warehouse licensed by the Commissioner at any place appointed for that purpose under the provisions of the Customs and Excise Act, which has been approved by the Commissioner for the storage of goods as he may approve in respect of that warehouse;
[Definition of “licensed customs and excise storage warehouse” inserted by section 101 of Act 31 of 2005]
“Invoice” definition of section 1 of VAT Act
“invoice” means a document notifying an obligation to make payment;
“Insurance” definition of section 1 of VAT Act
“insurance” means insurance or guarantee against loss, damage, injury or risk of any kind whatever, whether pursuant to any contract or law, and includes reinsurance; and “contract of insurance” includes a policy of insurance, an insurance cover, and a renewal of a contract of insurance: Provided that nothing in this definition shall apply to any insurance specified in section 2;