Taxable Supplies definition

Taxable Supplies has the meaning given in sections 9-5, 78-50, 84-5 and 105-5 of A New Tax System (Goods and Services Tax) Xxx 0000; and
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Taxable Supplies means any supply of goods or services made by a taxable person and does not include exempt supplies. These include – a/ acceptance of a wager or stake in any form of betting or gaming including lotteries, bingo and gaming machinesb/ the making of gifts or loans of goods, c/ the leasing or letting of goods on hired/ the appropriation of goods for personal use or consumption e/ barter trade and exchange of goods.
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Taxable Supplies means any supply of goods or services which is chargeable with tax under s7(1)(a), including tax chargeable at a rate of zero% under s11. Therefore taxable supplies are only supplies that would attract standard rated or zero rated suppliesRegistration of E-commerce • From 1 April 2014suppliers• Foreign suppliers of electronic services, at the end of the month where the total value of taxable supplies made by that person has exceeded R50 000. • Compulsory Registration• From 1 April 2014• A person is required to register:- at the end of the month which the total value of the taxable supplies for the preceding 12 months exceeded R1 000 000- If it is anticipated that the total value of the taxable supplies would exceed R1 million, if it exceeds this amount ito a written contractual agreement. Therefore the removal of the predictive element of the previous compulsory registration requirements- E-commerce suppliers as per previous slide • Voluntary Registration• From 1 April 2014• A person is may register:- if the value of the taxable supplies is more than R50 000 during a previous 12 month period- He is acquiring an enterprise of which the value of taxable supplies exceeded R50 000 during the previous 12 months as a going concern- Total value of taxable supplies has not exceeded R50 000 but can reasonably be expected to exceed that amount within 12 months from date of registration as a vendor – register on payments basis until value of taxable supplies exceeds R50 000- If that person continuously and regularly carrying on activity listed in a regulation to be made by the Minister. The consequences of the nature of that activity are that it is likely to make taxable supplies. • “supply” includes performance in terms of Sale, rental agreement, ICA and all other forms of supply.   
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Examples of Taxable Supplies in a sentence

  • Taxable Supplies by a Taxable Person in the Member State Territory.

  • If any Taxable Supplies are made under this Agreement, the Crown will provide the Service Provider with a recipient created tax invoice.

  • If Input Tax is related to Goods and Services used to make Taxable Supplies and non-Taxable Supplies, then Input Tax cannot be deducted save within the limits of the proportion referable to the Taxable Supplies.

  • The Taxable Person may deduct from the Tax Due and Payable by him in a Member State the value of Deductible Tax borne in the same State in the course of making Taxable Supplies.

  • If the total value of a person’s Taxable Supplies during any 12 months exceeds SAR 375,000, (the “mandatory VAT registration threshold”), that person must register for VAT9 on the supplies made, subject to the transitional provisions provided for in the Implementing Regulations.

  • In these Terms of Trade, ‘GST’ means the tax payable on Taxable Supplies under the GST Legislation, ‘GST Legislation’ means the Goods and Services Tax Act 1985 and any related Act imposing such tax or legislation that is enacted to validate, recapture or recoup such tax and ‘Taxable Supply’ has the meaning given to it in the GST Legislation.

  • You must promptly inform Bupa if your supplies are not Taxable Supplies and not subject to GST.

  • For VAT you will need to know or make a reliable estimate of the value of your Taxable Supplies.

  • This is subject to the transitional provisions provided for in the Implementing Regulations applying during the 2018 calendar year, which exclude residents with a turnover of less than SAR 1,000,000 from mandatory registration until 2019.(1) 2.3. CALCULATING THE VALUE OF TAXABLE SUPPLIES For VAT registration purposes, the total value of Taxable Supplies is calculated across a twelve month period, using either a retrospective or prospective test.

  • This will support the Trust’s ability to deduct Input Tax on purchases which are incurred for the Trust’s Taxable Supplies and are eligible for deduction.


More Definitions of Taxable Supplies

Taxable Supplies essentially means the turnover or total sales made.
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Taxable Supplies means any supply of goods or services made by a taxable person in the course of or in furtherance of his business after the start of the VAT and includes –
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Related to Taxable Supplies

  • Taxable Supply ’ means a supply of goods or services or both which is leviable to tax under this Act;

  • non-taxable supply means a supply of goods or services or both which is not leviable to tax under this Act or under the Integrated Goods and Services Tax Act;

  • Comparable Supply means the supply of Services to another customer of the Supplier that are the same or similar to the Services;

  • Tax Group means any federal, state, local or foreign consolidated, affiliated, combined, unitary or other similar group of which the Acquiror Company is now or was formerly a member.

  • Seller Group means, at any time, the group of companies comprised of Xxxxx Fargo & Company and its subsidiaries at that time.

  • Seller’s Taxes shall have the meaning set forth in Section 5.4(a) hereof.

  • Seller’s Group means the Seller and any company which is, on or after the date of this Agreement, a subsidiary or holding company of the Seller or a subsidiary of a holding company of the Seller, and excludes, for the avoidance of doubt, any Group Company, and "Seller's Group Company" shall be construed accordingly.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • taxable territory means the territory to which the provisions of this Act apply;

  • taxable service means any service provided or to be provided –

  • Transferred Entities means the entities set forth on Schedule 1.5.

  • non-taxable territory means the territory which is outside the taxable territory;

  • Tax Returns means any and all reports, returns, declarations, claims for refund, elections, disclosures, estimates, information reports or returns or statements required to be supplied to a taxing authority in connection with Taxes, including any schedule or attachment thereto or amendment thereof.

  • Distribution Taxes means any Taxes incurred solely as a result of the failure of the Intended Tax Treatment of the Restructuring, the Contribution or the Distribution.

  • VAT Group means a group for the purposes of the VAT Grouping Legislation.

  • Transaction Taxes has the meaning set forth in Section 2.6.

  • Related Liability with respect to any Asset means any liability existing and reflected on the Accounting Records of the Failed Bank as of Bank Closing for (i) indebtedness secured by mortgages, deeds of trust, chattel mortgages, security interests or other liens on or affecting such Asset, (ii) ad valorem taxes applicable to such Asset, and (iii) any other obligation determined by the Receiver to be directly related to such Asset.

  • SpinCo Group means (a) prior to the Effective Time, SpinCo and each Person that will be a Subsidiary of SpinCo as of immediately after the Effective Time, including the Transferred Entities, even if, prior to the Effective Time, such Person is not a Subsidiary of SpinCo; and (b) on and after the Effective Time, SpinCo and each Person that is a Subsidiary of SpinCo.

  • Buyer’s Group means the Buyer, any subsidiary of the Buyer, any holding company of the Buyer and any subsidiary of any holding company of the Buyer, from time to time.

  • Seller Taxes has the meaning set forth in Section 11.1(f).

  • Intra-Group Liabilities means the Liabilities owed by any member of the Group to any of the Intra-Group Lenders.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Remainco Group means RemainCo and its Subsidiaries, other than the SpinCo Group.

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Taxing entity means a public entity that: