Tsis in-depth course unpacks South Africa’s VAT system from registration to compliance.

This comprehensive session will walk you through key VAT concepts, including definitions of output and input tax, vendor registration and cancellation, and the responsibilities and liabilities of vendors. We will cover the timing and valuation of supplies, explore zero-rated and exempt supplies such as exports, financial services, and residential accommodation, and discuss the treatment of deemed supplies, fringe benefits, and going concerns.

Practical sections will address apportionments, prohibited input deductions, tax invoices, irrecoverable debts, and VAT implications for micro and connected businesses. Perfect for accountants, tax practitioners, and business owners looking to strengthen their VAT knowledge and compliance practices.

Topics Discussed:

• Definitions: Output tax and Input tax
• Registration
  • Category of vendor
  • Refusal to register
  • Cancellation of registration
  • Onus on the vendor
  • Liability of vendor
• Time and value of supply
  • General rule
  • Rental agreement
  • Instalment credit agreement
  • Fixed property
  • Open Market Value
• Zero-Rating
  • Export of goods
  • Export of secondhand goods
  • Supply of a going concern
  • Fuel levy
  • Services
• Exempt Supplies
  • Financial services
  • Residential accommodation in a dwelling
  • Education services
  • Transport by road or rail
  • Other
• Input Tax
  • Apportionment of input deductions – section 17 (1)
  • Prohibited input deductions – section 17 (2)
  • Double inputs
• Calculation of VAT payable – section 16 (3)
• Accounting basis
• Deemed Supplies
  • Fringe Benefits – section 18 (3)
  • Person ceasing to be a vendor – section 8 (2)
  • Disposal of going concern – section 8 (7)
  • Insurance claims – section 8 (8)
  • Non-Supplies – section 8 (14)
  • Supply of goods or services used partly for making taxable supplies – section 8 (16)
• Tax invoices, credit notes, debit notes
• Irrecoverable debts – section 22
• Late payments of VAT and interest on refunds
• VAT and micro businesses
• VAT and connected persons

All Included:

• Video presented course
• Downloadable course material
• Certificate of training
• Assessment (optional)
• SAIT Accredited - 2 Verifiable CPD Points