3 Vat questions to answer before you sponsor a charity event
Karl works for 'TCC' and they've been approached by the Children's Home, a non-profit company, to sponsor a hole at the golf day at the end of March. Both parties are Vat registered. Is there a Vat benefit involved for sponsoring a charity event?
The golf day's being arranged by the Children's Home in order to raise funds. TCC sponsors R25 000 and orders advertising material to put up on the golf course. Is there Vat
on the R25 000 and can TCC claim any of the Vat
back on its advertising material?
Read on to find out…
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Is there a Vat
liability involved with sponsorships for non profits?
To see if there's Vat
involved, TCC should make the list below, for themselves and SARS to check their Vat
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So to recap… TCC can claim input tax
of R3 070.17 on the advertising costs.
Until next month!
Expert of the Practical Vat Loose Leaf