SARS Commissioner welcomes Constitutional Court judgment on zero-rating of gold

The Commissioner for the South African Revenue Service (SARS) Dr Johnstone Makhubu has welcomed the unanimous judgment of the Constitutional Court in Lueven Metals v Commissioner for the SARS, which confirms SARS’ interpretation of Section 11(1)(f) of the Value-Added Tax Act. In a media release, SARS explains that the judgment clarifies that the zero-rating of gold supplied to the South African Reserve Bank, the South African Mint Company or a registered bank applies only where the gold is supplied in one of the prescribed forms and has not undergone any manufacturing process other than refining or the manufacture or production of those prescribed forms.

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