To amend the Value-Added Tax Act, 2000, so as to redefine the expressions “charitable organisation” and “life insurance contract”; to exclude passenger vehicles used for demonstration purposes from tax; to provide that a registered person does not have to declare an output tax when indemnified under a short-term insurance contract, where input tax was denied; to exclude all subsidies, grants and bursaries from tax; to make the erection or extension of or improvements to buildings and the sale of land and buildings taxable; to provide that certain levies become taxable; to abolish the 30% tax rate; to further provide for the determination of the value of a supply between connected persons; to allow for a certain levy to be deducted from the value of a bet; to provide that open market values may be used where goods are imported and required to be cleared; to compel importers who arranged VAT import accounts to also submit import declarations in cases where no goods were imported; to require that export declarations be obtained in respect of imports; to provide that registration may by agreement take effect from an earlier date; to provide that a registered person may claim input tax on used goods where the seller was not entitled to a deduction; to provide that charitable organisations, children’s homes, old-age homes and orphanages may claim input tax on the acquisition of passenger vehicles; to extend the basis of the apportionment formula; to establish a new value on tax refunds to non-citizens who purchased goods in Namibia; to provide that certain financial assistance agreements be deemed to be technical assistance agreements to qualify for tax refunds; to repeal the Schedule of goods subject to the 30% tax rate; to include the erection or extension of or improvements to buildings and the sale of land and buildings for residential purposes and telecommunication services to residential accounts in the Schedule of zerorated supplies; and to provide for matters connected therewith. |