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Proof of turnover - examples

26 May 2014   (0 Comments)
Posted by: Author: SAIT Technical
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Author: SAIT Technical

As most of you have experienced the proof of turnover in the VAT registration process as a very frustrating one, to say the least. 

Acceptable sources of financial information:

  • Invoices issued;
  • Written signed contracts;
  • Written approval  confirming tender awarded;
  • Signed commercial lease agreements;
  • Accepted orders with proof of acceptance, e.g. approved credit application/ deposit paid/progress payment schedule;
  • Going concerns- proof of taxable supplies made by supplier of enterprise, e.g. AFS/VAT returns;
  • Audited financial statements;
  • Property developers- plan/rezoning documents/financing methods; & / or
  • Signed offers of purchase indicating occupation date;
  • Farming-expenses incurred for livestock, game reserves, breeding;
  • Medical practitioners- medical aid statements.
NB: Not exhaustive list…..Varied sources….Different business!


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.


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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