Microsoft Word - VAT ACT - 2001.doc · Web viewAny person who holds out that he or she is an officer engaged in carrying out the provisions of this Act or an officer authorised
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1 An Act to make provision for the law relating to Value Added Tax. Enacted by the Parliament of Lesotho CHAPTER I PRELIMINARY Short Title 1. This Act may be cited as the Value Added Tax Act, 2001. Commencement 2. This Act shall come into operation on a date to be appointed by the Minister by Notice published in the Gazette. Interpretation 3. In this Act, unless the context otherwise requires - "application to own use", in relation to goods or services, means applying the goods or services to a non-business use (including such use by a relative); "associate", in relation to a person, means any other person who acts or is likely to act in accordance with the directions, requests, suggestions, or wishes of the first- mentioned person whether or not they are communicated to that other person, and the second-mentioned person is an associate of the first-mentioned person; "auction" includes the sale of goods out-of-hand by the auctioneer; "auctioneer" means a person licensed as an auctioneer under the Auction Sales Proclamation, 1919 1 ; "capital goods" means plant and equipment (including spare parts therefor, but not including registrable motor vehicles) for use directly in manufacturing; "Commissioner" means the Commissioner of Value Added Tax appointed under section 74; "company" means a body corporate or unincorporate, whether created or recognised under a law in force in Lesotho or elsewhere, but does not include a partnership or trust; "consideration", in relation to a supply or import, means the total amount in money or kind paid or payable for the supply or import by any person, directly or indirectly, including any duties, levies, fees, or charges paid or payable on, or by reason
