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MBABANE – The Value Added Tax Act of 2011 is to be amended to provide for the manner in dealing with bonded goods.

This was mentioned by government through their weekly gazette released yesterday.

The government said the act is to provide for delegation of powers of the Commissioner General and criminalise certain acts and to provide for incidental matters.

“This Act may be cited as the Value Added Tax (Amendment) Act, 2022 and shall be read as one with the VAT Act of 2011,” says the government.

The amendment is as follows:

Value Added Tax (Amendment) Act, 2022

Amendment of Section 4

Section 4 of the Principal Act is amended in Paragraph (a) by adding the words ‘or’ as otherwise directed by the minister through regulations at the end of paragraph immediately after the word ‘the supply’.

Amendment of Section 7

Section 7 of the Principal Act is amended by adding a new subsection (11) immediately after subsection (10) as follows:

“A registered taxpayer shall display the registration certificate issued in terms of this Act at a prominent place in the principal place of business of that registered taxpayer.”

Amendment of Section 17 of the Principal Act is amended by inserting a new section 17b as follows:

“Removal of goods in bond” 17b is removal of goods in bond shall be in accordance with the Customs and Exercise Act 1971 or the relevant section of its successor.

Amendment of Section 19

Section 19 of the Principal Act is amended by deleting the whole section and replacing it with the following new Section 19:

“Exempt supply of services.” A supply of services shall be an exempt supply if it is specified in the first schedule.

Amendment of Section 20

Section 20 of the Principal Act is amended by deleting the whole section and replacing it with the following new section 20:

“Exempt supply of goods.” (1) A supply of goods shall be an exempt supply if it is set forth in Part B of the First Schedule to this Act shall be exempt from the tax charged and payable in terms of this Act.

(2) Where a supply of goods is an exempt supply under paragraph 1 (e) of Part B of the first schedule, both the transferor and transfer shall, within 21 days of transfer, notify the commissioner General in writing, of the details of the transfer.