[…] 91 of 1964. As a result, the goods liable for forfeiture in terms of the provisions of section 88(2)(a) and levied an amount in lieu of forfeiture, outstanding VAT and VAT penalty. 21 November 2022 Motloung and Another v CSARS and Others (5492/2021) Tax Administration Act, 2011 Policy and procedure: Whether or not the impugned […]
What’s new? 2 August 2022 – Frequently Asked Questions (FAQs): Domestic Reverse Charge Regulations for VAT (Issue 2) were published. Introduction A VAT domestic reverse charge (DRC) on valuable metal was introduced in the Regulation published in Government Gazette 46512 on 8 June 2022, see Regulations on domestic reverse charge relating to valuable metal, […]
VAT Refunds to Qualifying Purchasers, such as tourists and foreign enterprises What is the VAT refund mechanism? South Africa has a VAT refund mechanism to refund the amount of VAT that is charged at 15% and paid on the acquisition of goods by a qualifying purchaser. The qualifying purchaser must submit a claim for the VAT […]
[…] A for an individual with an identity or passport number. B for an individual without an identity or passport number. C for a director of a pri vate Company or member of a Close Corporation. D for a Trust. E for a company or a Close Corporation. F for a partnership. G for a […]
[…] any property or income solely in the furtherance of its aims and objects. It could also qualify as a “welfare organisation” if it conducts certain activities. The VAT414 guide deals specifically with associations not for gain and welfare organisations. ATA Admission Temporaire/Temporary Admission ATA Carnet An international Customs document which, issued under […]
What is a VAT refund? A VAT refund is an amount of VAT that is payable by SARS to a vendor, where: the total amount of VAT charged to the vendor on the acquisition of goods and services (input tax) and on the importation of goods (and which are allowed as a deduction) exceeds […]
[…] guide was initially published or updated, and all the guides on this page are still valid until they are either replaced or withdrawn. Pocket Guide on the VAT Rate Increase on 1 April 2018 Minor clarifications were added to the Pocket Guide on the VAT rate increase in response to feedback received from stakeholders. Refer […]
A vendor’s VAT registration may be cancelled by the Commissioner or on written request by the vendor, if certain requirements are met. What are the reasons to cancel a VAT registration? A vendor may apply in writing for cancellation of a VAT registration where the value of taxable supplies will be less than the […]
[…] for research and development Draft amendments to Regulations on domestic reverse charge relating to valuable metal in terms of 74(2) of the Value-Added Tax Act, 1991 (the VAT Act) Draft Explanatory Memorandum on domestic reverse charge relating to valuable metal in terms of 74(2) of the VAT Act Draft amendments on Carbon Offsets Regulations […]
Obligations of a VAT Vendor VAT registration places certain obligations and record keeping duties on a vendor. For example a vendor must ensure that: VAT is collected on taxable supplies; VAT is included in all prices advertised or quoted; tax invoices are issued for supplies made, where required; returns are submitted and payments are […]
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