Value-added tax (VAT) is a tax liability that is often misunderstood by many businesses and some of the basic principles not currectly or efficiently applied. It is a relatively easy tax for the SARS to police and as a result many businesses find themselves inadvertently falling foul of the revenue authorities. In this course we go back to basics and look at the main principles of VAT and gain a clear understanding of the mechanics of this tax.
COURSE CONTENT:
When are you carrying on an "enterprise"
Voluntary and compulsory registration as a VAT vendor
Invoice vs payments basis
VAT framework: Output vs Input Vat
Timing of supplies and VAT liability
Identification of supplies: standard rated, zero-rated and exempt
Deemed supplies: incl fringe benefits, deregistration as a vendor and insurance awards
Input VAT: incl apportionment and notional input Vat on second hand goods
Denial of input VAT: incl "motor car" definition and subsistence expenses
WHO SHOULD ATTEND?
Business owners (incl.partners in a partnership) and directors
Compliance persons responsible for overall risk management within the enterprise
Payroll managers
Persons responsible for issuing invoices for either the goods or services of the enterprise
Managers responsible for the indirect tax function
Junior tax consultants and senior tax consultants requiring a refresher
PRESENTER/S:
Di Seccombe (Bcom, LLB, LLM(Taxation) Di Seccombe has been involved in tax for the past 10 years. She is an admitted attorney with a Masters degree in taxation. Di is currently a senior tax manager with Mazars Moores Rowland in Cape Town and lectures part time on the UNISA CTA programme to assist up and coming CA's. Di started her tax career as a full time academic with the University of KwaZulu-Natal before moving into practice. She has presented numerous tax seminars with great success and is a popular lectuer amongst her students, as her primary focus in any presentation is that attendees find the material presented in an understandable and accessible manner.
CPD:
Attendance at this seminar will secure 4 hours verifiable CPD points
including other professional bodies (SAICA, SAIPA, SAIBA, ACCA, IAC, ICB, FPI, ACIS, LSSA, FISA)
