S.L. 406.1 Art. 2Interpretation. Cap. 406. Cap. 395.

(1) In these regulations unless context otherwise requires -"the Act" means the Value Added Tax Act; "excise tax" means excise tax on imports or excise tax on products paid or payable in terms of the Customs and Excise Tax Act;

"registered person" means a person who is registered in terms of the Act but shall not include a registered person who is classified as an exempt person or who is so classified up to 30 June, 1999; "trading stock" means stock held for resale by a registered person as on the 31 December, 1998 but shall not include stock on which no excise tax has been paid.

(2) Other terms and expressions shall have the meaning assigned to them in the Act.