usually between countries, to limit or change ..., goods originating from either of the trading partners are exempted from payment of customs duties under the condition that the goods meet a minimum of 25% local content. Excise duty and local taxes, such as VAT, are due and payable where ...
The turnover tax system replaces other kinds of taxes. These include VAT for micro-businesses with an annual turnover of 1 million ZAR or less. Example of Business Turnover For companies that are selling goods, the ZAR value of their sales is their turnover. For those offering services, y...