Giblets: Buying games post-April? Breathe easier now!

The proposed 1 April 2014 start date for the taxation of digital goods has been postponed to 1 June 2014. The draft regulations were the source of all the agony over the initial implementation date but today Finance Minster Pravin Gordhan published the final proposed regulations in the Government Gazette. This gives the public extra time for comment although its unlikely that treasury will back down on such a lucrative source of income.

For those of you not familiar with it yet, the new tax law applies to digital goods and services bought on the internet and adds 14% VAT to the final price. Although this encourages companies to register with SARS as VAT vendors in the country, most will decline to register and thus the local banks will be tasked with adding on the VAT once your purchase clears through your credit or debit card. The regulations cover everything from online subscriptions to games or magazines as well as distance learning, internet-based auction services (like eBay), online content and access to streaming networks.

Source: MyGaming

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