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VAT Issues and SARS - Pretoria
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In the updated SARS Compliance Programme (2012/13 to 2016/17) VAT non-compliance continues to be identified as an area of risk to the fiscus and accordingly SARS wishes increase compliance with the VAT legislation. As a result VAT vendors will continue to face increased scrutiny from SARS. The new IT14SD form and the Tax Administration Act have substantially increased SARS’s information gathering powers, thereby making it a great deal easier for SARS to detect non-compliance by vendors.

2013/08/28
When: 2013/08/28
09:00am until 13:30pm
Where: Diep In Die Berg
929 Disselboom Street
Wapadrand
Pretoria, Gauteng  0050
South Africa
Contact: Ingrid Erwee


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Preparing for a SARS Audit Presented By Ronel de Kock

OVERVIEW:

In the updated SARS Compliance Programme (2012/13 to 2016/17) VAT non-compliance continues to be identified as an area of risk to the fiscus and accordingly SARS wishes increase compliance with the VAT legislation. As a result VAT vendors will continue to face increased scrutiny from SARS. The new IT14SD form and the Tax Administration Act have substantially increased SARS’s information gathering powers, thereby making it a great deal easier for SARS to detect non-compliance by vendors.

In this seminar we will address many of the most commonly audited areas and the documentation requirements vendors are required to meet. We will also address the increased reconciliation required in terms of the new IT14SD form, and the relevant implications of the Tax Administration Act.

COURSE CONTENT:

Topics to be covered will include:

  • VAT recon in terms of IT14SD
  • Tax Administration Act
    • New penalties
    • Third parties appointed to pay tax debts of a taxpayer
    • Liability of representative taxpayers
    • Rights of a taxpayer during an audit
  • Imports and exports
    • Including new rules for zero rating indirect exports
  • Indemnity receipts
  • Reimbursements
  • Agent-principal relationships
  • Bad debts and bad debts recovered
  • Creditors outstanding for more and less than 12 months
  • VAT and fringe benefits, including use of company cell phones and computers
  • VAT and income tax deductions
  • Separate operating divisions
  • Valid tax invoices: output and input VAT
  • Apportionment of input VAT due to financial services and other exempt supplies
  • Returns goods, trade discounts, settlement and prompt payment discounts.
  • Denial of input VAT: entertainment and "motor cars” (including rental vehicles)
  • Body corporates and homeowner associations

WHO SHOULD ATTEND:

Tax practitioners, tax academics, business owners and managers, advisors, auditors, accountants, bookkeepers and anyone else involved in business management and/or taxation.

PRESENTER/S:

Di Seccombe (B Com, LLB, LLM (Taxation)

Di Seccoumbe is an admitted attourney with a Masters degree in taxation. Di started her tax career as a full time academic with the University of KwaZulu Natal before moving into practice. She is currently the National Head of Tax Training with Mazars and in this capacity trains and consults on Income Tax matters including, Corporate, Individual and International tax as well as VAT. Di, provides internal tax training for Mazars, and presents external tax seminars on a national basis, focusing on general as well as specialised tax topics. She still lectures part time for the National School of Accounting to assist up and coming CA's with passing the UNISA CTA (Hon) programme.

CPD:

Attendance will secure 4.5 hours verifiable CPD points/units, incl. other professional bodies.
(SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA)

EVENT INVESTMENT:

SAIT Members: R850.00
Affiliated Members R950.00
Non-Members: R990.00

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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