Tax periods for VAT vendors

What tax periods are available for VAT? 

The following five categories of tax periods are available:

Category A

every 2 Calendar Months
  • Under this category, a vendor is required to submit one return for every two calendar months, ending on the last day of January, March, May, July, September and November.
  • The Commissioner will determine whether a vendor falls within this category.
Commisioner

Category B

every 2 Calendar Months
  • Under this category, a vendor is required to submit one return for every two calendar months, ending on the last day of February, April, June, August, October and December.
  • The Commissioner will determine whether a vendor falls within this category.
Commisioner

Category C

every 1 Calendar Month
  • Under this category, a vendor is required to submit one return for each calendar month
  • A vendor will fall within this category if:
  • • the total value of taxable supplies made by the vendor has exceeded or is likely to exceed R30 million in any consecutive period of 12 months,
  • • the vendor has applied in writing to be placed in this category, or
  • • the Commissioner determined that the vendor falls within this category due to the vendor repeatedly failing to perform any obligations as required by the VAT Act.

Category D

every 6 Calendar Months
  • Under this category, a vendor submits one return for every six calendar months, ending on the last day of February and August (or any other month were written application is made to the Commissioner and approved)
  • This category applies mainly to a vendor who
  • - carries on farming activities, where the total value of taxable supplies is less than R1.5 million for a period of 12 months,
  • - is a micro business that is registered in terms of the Sixth Schedule to the Income Tax Act.

Category E

every 12 Calendar Months
  • Under this category, a vendor is required to submit one return for every twelve months, ending on the last day of the vendor’s year of assessment (or any other month were written application is made to the Commissioner and approved)
  • This category applies to a vendor:
  • • that is a company or a trust fund
  • • that carries on activities of letting of fixed property or renting of movable goods or the administration or management of companies which are connected persons to the vendor
  • • additional criteria, to fall within the ambit of this category, are set out in Chapter 3 of the VAT 404 guide..

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