
Elle-Sarah Rossato, a partner and head of tax and dispute resolution at PwC South Africa, discusses the Constitutional Court's ruling that second-hand gold does not qualify for a zero rate under the VAT Act.
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The Constitutional Court has ruled against the implementation of a zero VAT rate for second-hand gold, confirming that most second-hand gold will now be subject to the standard value-added tax rate of 15%. This decision effectively closes a longstanding loophole in the taxation of second-hand gold transactions.
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