Input tax is defined as the VAT incurred on the supply of goods or services to the vendor; VAT incurred on the importation of goods; and VAT on excise duty. Also included in the definition of input tax is, inter alia, the deemed input tax deduction on the acquisition of second-hand goods. Input tax is only deductible to the extent that it is incurred for the purpose of consumption, use or supply, in the course of making taxable supplies. This course focuses on when VAT may be claimed, under which circumstances as well as the timing of the claim. Also, which inputs are specifically denied.

• Timing and the value of supply – when VAT is triggered
• The dreaded Pro-Forma Invoice
• When to claim expenses at the Zero Rate
• Expenses specifically denied – You may NOT claim the VAT
• Some Adjustments – for example Bad Debts Written Off

All Included:

• Video presented course
• Downloadable course material
• Certificate of training
• Optional assessment
• SAIT Accredited - 1 verifiable CPD points