Introduction of VAT from January 2015

VAT

We understand that the proposed VAT (Value Added Tax) bill will become effective from January 1, 2015. Under the terms of the bill Sandyport Homeowners Association requires mandatory registration as it does not meet the requirements for exemption.

As a VAT registered entity we will add the tax at the prevailing rate (currently 7.5%) to all charges. As we will be able to recover the VAT paid on purchases, there is no cost burden to the Association. However homeowners should prepare for the addition of VAT to all charges made by the Association.

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