Section 63: Cessation or transfer of business

63. Cessation or transfer of business (1) Where a registered person intends to cease business, he shall notify the Director-General in writing of the date of the cessation of business. (2) Subject to subsection (3), a registered person who ceases business shall, within 15 days of the date of the cessation— (a) submit a return and pay all tax due including the tax due on any goods forming part of the assets of the business, other than those specified in section 21 (2) (b); and (b) return to the Director-General his certificate of registration and all his copies. V4 – 41 [Issue 10] Value Added Tax Act (3) Subject to section 21 (7A), where a registered person who ceases to carry on business, sells or otherwise transfers his business as a going concern to another registered person, he shall not charge VAT on the sale or transfer. (4) — [S. 63 amended by s. 19 of Act 18 of 2003 w.e.f. 21 July 2003; s. 19 (g) of Act 37 of 2011 w.e.f. 15 December 2011; s. 30 (i) of Act 26 of 2013 w.e.f. 21 December 2013.] 63A. — [S. 63A inserted by s. 19 (h) of Act 37 of 2011 w.e.f. 15 December 2011; repealed by s. 69 (n) of Act 11 of 2018 w.e.f. 9 August 2018.] 64. — [S. 64 repealed by s. 69 (n) of Act 11 of 2018 w.e.f. 9 August 2018.]