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Small Businesses and VAT

What you need to know

  • It is mandatory for any business to register for VAT if the income earned in any consecutive twelve month period exceeded or is likely to exceed R1 million​. 
  • Any business may choose to register voluntarily if the income earned, in the past twelve month period, exceeded R50 000. 
  • A small business that is registered as a micro business under the Sixth Schedule of the Income Tax Act may also register for VAT and may elect to submit returns and payments every four months, ending on the last day of June, October and February.

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