I got Wesbank's response today about a VAT issue. In short, I made an arrangement with Wesbank to sell my car privately and pay off the balance due. Then my statement came and VAT was charged on the private sale. This is a beaut.
Firstly I am described as and I quote "The complainant could not fathom why VAT would be charged and the Bank had explained on numerous occasions that VAT would be applicable to any sale concluded"
Wesbank confirms that it was a out of hand (private) sale. Furthermore Wesbank describe this as follows and I quote "An out of hand sale is an exceptional circumstance and does not form part of the Bank' processes and system implementations. Therefore the system and statements would identify this as a repossession and sale." Ring the bell!!!
You just confirm that my out of hand sale was identified as a repossession and sale by your system. The same system that calculated the VAT???
My accountant confirms that I should not pay VAT on this as basically Wesbank charged me the VAT when I purchased the vehicle. The out of hand sale and payment should be seen as a repayment only.
You surely should not pay VAT twice for the same product.
I cant FATHOM that
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