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VAT Changes

12 October 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

From 12 October 2015 SARS implemented system changes which now cater for the proper processing of Collective Investment Scheme (CIS) registrations and VAT  Voluntary registrations which made provision for the registration of vendors who have not yet made taxable supplies exceeding R50 000 per year.

  • In short, voluntary registration for VAT is now allowed for taxable supplies up to R50 000 within 12 months from date of registration;
  • and reclassification of Category F VAT vendors as Category A or B vendors. See more detail below under 'When to register' or see our Guide for the completion of VAT registration application.

Please click here to read more. 


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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