Folks,
I live in the UK, but I have a brother who has built a 38ft steel yacht in
South Africa. He is getting a bit too old to manage it now, and I would
like to buy it. Can anybody tell me how VAT is calculated? The thing is,
boats out there sell for less than a quarter of what you would pay here,
so
is VAT calculated on the purchase price, or is an arbitrary price arrived
at
by somebody (custome?), and VAT charged on that?
Many thanks,
MikeC.
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