VAT treatment of fringe benefits. The acquisition of an asset at less than the actual value - is it what SARS intended it to be?

Abstract

This article investigates the interaction between the Value-Added Tax Act (VAT Act) and the Income Tax Act with specific reference to the fringe benefit regarding the acquisition of an asset at less than its actual value. The purpose of the article is to determine whether a benefit might be achieved in granting this benefit to the employee.