Why should I register for Value-Added Tax (VAT)?

You should register for VAT if you intend participating in the VAT system. However, before you register you must carry on an enterprise and you must meet, either the compulsory or the voluntary   monetary registration threshold requirements. To register on the compulsory basis, you must carry on an enterprise and the value of your taxable supplies   (excluding VAT) must either exceed R1million in a 12month period or if you have reasonable grounds to believe that your taxable supplies will exceed R1million. To register on the voluntary basis you must carry on an enterprise and the total value of your taxable supplies must have exceeded R50 000 in the past period of 12 months.
Last Updated: 15/02/2013 3:08 PM     print this page
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