Getting ready for VAT

What steps must I take?

Once the business is registered for VAT, the vendor or representative vendor is obliged to perform certain duties and take on certain responsibilities, for example, the vendor or representative vendor is required to-
  • include VAT in all prices advertised or quoted;
  • charge and collect VAT;
  • submit returns and payments on time;
  • issue tax invoices for supplies made;
  • maintain adequate records for supplies made and received;

When should the VAT be paid?

For businesses that file their VAT returns and make payments electronically (i.e. the vendor must be registered as an eFiler, in which case the VAT returns must be filed using this platform and VAT payments must be made using this platform), the VAT must be paid by no later than the last business day of the month after the end of the tax period.
 
For all other businesses, the VAT must be paid by no later than the 25th day after the end of the tax period.  For more information on tax periods for VAT vendors, click here.

How should the VAT be paid?

VAT can only be paid via:
  • SARS eFiling; 
  • EFT at the Bank
  • Over the counter at the bank branch
Last Updated: 18/05/2016 11:28 AM     print this page
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 Top FAQs

When is my VAT payment due?
VAT payments are due by the 25th day of the first month commencing after the end of the tax period, for businesses who file their returns and make payments electronically.

Can I continue with trading while waiting for my VAT registration number?
Yes.

How is VAT calculated?
Deduct input tax from output tax laibility which will result in VAT payable or refund.