Agency services in relation to financial services
11/04/1995
Query
Management of credit card transactions.
Decision
The provision of a global management service described as a total servicing system including settlement of accounts for credit card transactions, is regarded as a single composite supply of a financial service within the meaning of paragraph (ix) (d) of the First Schedule of the VAT Act.
Value Added Tax
Schedule 1, Value Added Tax Act, 1972
Origin: Indirect Taxes Policy and Legislation
File ref:A/373