S.L. 406.1 Art. 9Registered person’s option. Cap. 395. Cap. 395. Cap. 395. Cap. 395.

Where a registered person so opts, he may, in lieu of the provisions of regulations 4, 5, 6, 7 and 8, apply for a refund of the excise tax on trading stock by computing such refund in the following manner:

(a) where the registered person is an importer, at the rate of 85% of the value of input tax refunded by that registered person in terms of the provisions of article 78 of the Customs and Excise Tax Act;

(b) where the registered person is a wholesaler, at the rate of 50% of the value of input tax refunded by that registered person in terms of the provisions of article 78 of the Customs and Excise Tax Act;

(c) where the registered person is a retailer, at the rate of 100% of the value of input tax refunded by that registered person in terms of the provisions of article 78 of the Customs and Excise Tax Act;

(d) where the registered person is a manufacturer, at the rate of 75% of the value of input tax refunded by that registered person in terms of the provisions of article 78 of Customs and Excise Tax Act.