The 2013 Tax Amendments included amendments in respect of the registration of enterprises as VAT vendors, and the long awaited Regulations in respect of indirect exports have finally been released; both signalling good news for VAT vendors.
However 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 existing VAT vendors, and enterprises that have failed to register for VAT as and when required. The obligation of vendors to document transactions correctly to substantiate the VAT treatment remains essential.
In this seminar we will address many of the area's most commonly audited and the documentary 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.
Topics to be covered will include:
- The 2013 amendments in respect of registration of enterprises as vendors
- The new Regulations in respect of indirect exports
- Updated Interpretation note in respect of direct exports
- Homeowner associations now making exempt supplies
- VAT recon in terms of IT14SD
- Indemnity receipts
- Agent-principal relationships
- Bad debts and bad debts recovered
- Creditors outstanding for more and less than 12 months
- VAT and fringe benefits
- VAT and income tax deductions
- Separate operating divisions
- 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)
- 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
Who should attend:
- Tax practitioners
- All business owners and managers
- Advisors, auditors, accountants, bookkeepers and
- Tax academics
- Anyone else involved in business management and/or taxation
(B Com, LLB, LLM (Taxation)
Di Seccombe 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.
This event and successful completion of the online assessment will secure 4.5 hours verifiable output TAXCPD points/units.
Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC)
Monthly CPD Subscribers: Free
Option 1 - Seminar:
Important: Please note that as from 2014 printed copies of notes is optional and will cost additional R50 per set and must be ordered. Electronic notes will be emailed to all registered delegates 2 days prior to the event. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.
Option 2 - Live Webinar Broadcast
This CPD event will be broadcast live on Tuesday 2 September 2014 from 09:00 - 13:30
Click here to register for the Webinar
Payments & Cancellations
All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
- Proof of payment may be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
- Only written notice of cancellation will be recognised.
- If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
- If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
- If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
- Delegates who book and fail to attend will be liable for the full event fee.
- SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.