Bottom Line Principles of VAT

Price:
R422.05 (VAT Incl.)
Level:
Tax Professionals
Sub-level:
Taxation
Lecturer:
Jeanmari van der Schyff
Duration:
120 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Understanding the bottom line and the basic principles that govern VAT.

  • Becoming liable and registering as a VAT vendor:
  • What is an enterprise?
  • When does VAT registration become compulsory?
  • How does one determine the value of your taxable supplies for
    registration requirements
  • What happens when you cease to be a vendor
  • The driving force behind output VAT
  • What is a supply?
  • When would output VAT have to be charged
  • What is the value on which output VAT will be based?
  • When may vendors claim input taxes, and when would it be denied?
  • Knowing your supplies: Distinguish between standard-rated, zero-rated,
    and exempt supplies
  • Knowing your VAT periods and accounting basis
  • VAT invoices, quotes, and other related documents
  • Navigating the eFiling system as a VAT vendor and completing the
    VAT201 return.