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I AM BUYING THE SHARES IN A PTY LTD COMPANY WHICH HOLDS A PROPERTY

Resolved Question:

I AM BUYING THE SHARES IN A PTY LTD COMPANY WHICH HOLDS A PROPERTY AS ITS ASSET WILL VAT BE PAYABLE IF THE CO IS A VAT VENDOR

Submitted: 3 years ago.
Category: South Africa Law
Expert:  CaseLaw replied 3 years ago.

Hi there,

If you are simply buying the shares in the private company, then you are not going to pay any VAT on purchasing the shares.

If you are going to sell the property once you own the company, and the company initially claimed a VAT deduction when the property was purchased, then you are now going to have to charge VAT if you sell the property.

If you claim the VAT back on a purchase, then you are going to have to charge the next person VAT when you sell.

Thank you for your question and if you feel that I have been of assistance kindly accept my answer.

If you feel that this answer exceeded your expectations feel free to award a bonus.

Regards


GoldLaw


Please note: This answer does not create an attorney-client relationship. Please consult a local attorney in person for legal advice. This information is being provided so you can better discuss legal matters with your attorney.


CaseLaw, Attorney
Category: South Africa Law
Positive Feedback: 96.7 %
Satisfied Customers: 858
Experience: BCom (UCT) LLB (UCT)
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